GST

Who is “owner of the goods” under GST for detention, seizure and release

Who is owner of the goods u/s 129(1) of CGST Act – CBIC Clarification 

Under section 129(1) of the CGST Act, where any person transports any goods or stores any goods while they are in transit in contravention of the GST provisions, all such goods and conveyance used as a means of transport for carrying the said goods and documents relating to such goods and conveyance is liable to detention or seizure.

The section also provide for the release of the goods after detention or seizure, on payment of tax and penalty in cases where either the  owner of the goods comes forward for payment of such tax and penalty or where the owner of the goods does not come forward for payment of such tax and penalty.

The CBIC has issued Circular No. 76/50/2018-GST clarifying certain issues related to GST.

The following clarification has been given on the question as to who us the deemed owner u/s 129(1):

Question:

Who will be considered as the “owner of the goods” for the purposes of section 129(1) of the CGST Act?

Answer:

It is hereby clarified that if the invoice or any other specified document is accompanying the consignment of goods, then either the consignor or the consignee should be deemed to be the owner.

If the invoice or any other specified document is not accompanying the consignment of goods, then in such cases, the proper officer should determine who should be declared as the owner of the goods.

Share

Recent Posts

  • SEBI

Mutual Funds to value physical Gold and Silver by using the polled spot prices

Mutual Funds to value physical Gold and Silver by using the polled spot prices published by the recognized stock exchanges…

57 minutes ago
  • bankruptcy

SC allows simultaneous CIRP proceedings against principal debtor & corporate guarantor

Supreme Court allows simultaneous CIRP proceedings against principal debtor and its corporate guarantor, declines to frame any guidelines In a…

2 hours ago
  • Income Tax

Merely because sales were declared for only one month, same cannot be treated as bogus

Merely because assessee had declared sales for only one month, the same cannot be treated as bogus on the basis…

16 hours ago
  • Income Tax

ITAT deleted addition as method of accounting had been accepted in earlier years

ITAT deleted addition as the method of accounting had been accepted by the department in earlier years and the entire…

2 days ago
  • Benami

Orders passed under Benami Act cannot be challenged under IBC 2016 – SC

Orders passed under Benami Act cannot be challenged under Insolvency and Bankruptcy Code, 2016 - SC In a recent judgment,…

3 days ago
  • RBI

RBI notified format of Currency Declaration Form to declare foreign exchange brought

RBI notified format of Currency Declaration Form (CDF) to declare foreign exchange brought into India Regulation 6 of the Foreign…

3 days ago