What is High Sea Sale under GST?

            High Sea sales is a sale carried out by the actual consignee (i.e, the consignee shown in the Bill of Lading) to another buyer while the goods are yet on high seas or after their dispatch from the port of loading and before their arrival at the port of discharge.

For example- A company in Germany supplies goods from Germany to another company in Sri Lanka — this is not a supply in the course of inter-state trade or commerce because it commences and concludes outside the territory of India. It would be so, even if the goods were supplied by the company in Germany from Germany to a customer incorporated in India if the goods are not ‘brought’ into India but sold in high seas to yet another company in Singapore.

In order for every supply to come within the operation of Section 7(2) of IGST Act it requires that the resultant effect of the supply must cause the goods to enter the territory of India.

This Act does not enjoy extra- territorial jurisdiction and is limited to imposing tax if the goods are imported into the territory of India.

It has been clarified vide Circular No- 33/2017- Customs dated 1st August 2017, that IGST on High Sea Sales transaction on imported goods, whether one or multiple, shall be levied and collected only at the time of importation i.e. when the import declarations are filed before the Custom authorities for the custom clearance purposes for the first time.

GSTR - 9

    Form GSTR-9 is an annual return form to be furnished by all registered taxpayers. The registered taxpayers include those who are registered under the composition scheme as well. The said return gives exemption to the following persons:

1)   Casual Taxable Person

2)   Input service distributors

3)   Non-resident taxable persons

4)   Persons paying TDS

The GSTR-9 has to file different form by different people as below:

1.  GSTR-9: It should be filed by the regular taxpayers who are filing             GSTR-1, GSTR-2 and GSTR-3.   
2.  GSTR-9A: It should be filed by the persons registered under composition     scheme. 
3.  GSTR-9B: It should be filed by the e-commerce operators who have filed   GSTR-8.
4.  GSTR-9C: It should be filed by the taxpayers whose annual turnover        exceeds INR 2 crores during the financial year. All such taxpayers are also required to get their accounts audited and file a copy of audited annual accounts, reconciliation statement of tax already paid and details of tax payable as per audited accounts, along with this return.

The other important points are:

• There is no option for return being revised.
• The due date for FY 2017-18 is 31^st December, 2018.                               
• The return is said to be a summarized of the details filed in the previous returns filed. But, there is a dilemma that weather we can put the details that are missed out in filing the monthly returns. We are supposed to wait for any further communication by the department.