The Central Board of Indirect taxes & Customs(“CBIC”) vide its Circular No. 04/01/2019-GST dated February 01, 2019 has clarified as follows:
- The provisions of the CGST (Amendment) Act, 2018 and SGST Amendment Acts of the respective States have been brought into force w.e.f. February 01, 2019.
- Schedule III of the CGST Act, 2017 has been amended vide section 32 of the CGST (Amendment) Act, 2018 so as to provide that the “supply of warehoused goods to any person before clearance for home consumption” shall be neither a supply of goods nor a supply of services.
- Accordingly, Circular No. 03/01/2019-IGST dated 25th May, 2018 is hereby rescinded.
The circular can be accessed at: http://www.cbic.gov.in/resources//htdocs-cbec/gst/igst-circu-4.pdf;jsessionid=B3A3EC27C6AD2F67AA83918B20E415F4