Important changes made in GST rules

A number of important changes in the goods and services tax (GST) laws have taken effect from the beginning of this month. Some of these relate to import and export. 

Merchanting trade, when an Indian buys goods from a foreign country and then sells these to a buyer in another country, without bringing the goods into India, will not attract GST.  Further, sale of goods when still in a Customs bonded warehouse would also not attract GST — this would be paid upon clearance of such goods by the buyer. High seas’ sale transactions also would not attract GST. 

These situations were