GST to be levied on goods stored in customs warehouse only on final clearance: CBIC

The Central Board of Indirect Taxes and Customs (CBIC) has asked its field offices to levy GST on goods in customs warehouse only at the time of final clearance. The move is aimed at ensuring ease of doing business for importers, experts said. In a circular to principal chief commissioners and chief commissioners, the GST policy wing of the CBIC said, "transfer/sale of goods while being deposited…