IGST to be levied only once on high sea sales

The Integrated Goods and Services Tax (IGST) would be levied only once for sales on the high seas at the time of clearance of import of goods from the Customs department.

There was ambiguity on whether IGST would be levied multiple times in such sales, for each leg of the transaction.

The Central Board of Excise and Customs has clarified that value addition accruing in each high sea sale transaction shall form part of the value on which IGST would be levied at the time of clearance. This means it would be payable on the value for the last buyer