News Details
Title
Warehouse is ‘Customs Area’ under IGST !!
News Description :

Inorder to synchronise the new forthcoming IGST provisions the definition of 'Customs Area' has been proposed and amended in the Finance Act, 2017.

Clause 2 of the Bill seeks to amend clause (11) of section 2 of the Customs Act, 1962 so as to include 'warehouse' in the definition of customs area to ensure that an importer is not asked to pay Integrated Goods and Services Tax at the time of removal of goods from a customs station to a warehouse.