The Central Board of Indirect Taxes and Customs on July 24, 2019, clarified the applicability of Notification No. 45/2017-Customs on the re-import of goods which had been earlier exported either for participation in exhibition or on consignment basis.
The issue is clarified as, since, in these goods no consideration is involve, they do not fall in the ambit of supply as specified under Section 7 of the CGST Act and same cannot be considered as Zero rated supply. Further, it clarified that no integrated tax is required to be paid at the time of re-import of such goods. Such re-import of goods will we covered under Serial no. 5 of the Notification No. 45/2017 dated June 30, 2017.
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