{"id":13239,"date":"2018-07-07T18:57:41","date_gmt":"2018-07-07T18:57:41","guid":{"rendered":"https:\/\/www.tradefinanceglobal.com\/?page_id=13239"},"modified":"2025-01-09T16:53:58","modified_gmt":"2025-01-09T16:53:58","slug":"what-is-gst-bill-of-entry","status":"publish","type":"page","link":"https:\/\/www.tradefinanceglobal.com\/freight-forwarding\/what-is-gst-bill-of-entry\/","title":{"rendered":"What is GST?"},"content":{"rendered":"\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<div class=\"wp-block-columns container w-auto is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:33.33%\"><div class=\"block-header-without-image d-flex flex-direction-column justify-content-center\">\n    <h2 class=\"fs-32 fw-700 fs-xs-28 not-for-table-content\" id=\"heading-what-is-gst\">\n        What is GST?    <\/h2>\n    <div class=\"d-grid grid-col-2 grid-col-xs-1\">\n                            <div class=\"\">\n                <div>Last updated on 09 Jan 2025<\/div>\n                <div>07 Jul 2018 . 3 min read<\/div>\n            <\/div>\n            <\/div>\n    <\/div><\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:66.66%\"><figure class=\"wp-block-post-featured-image\"><img loading=\"lazy\" decoding=\"async\" width=\"869\" height=\"352\" src=\"https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/What-is-GST.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" style=\"object-fit:cover;\" srcset=\"https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/What-is-GST.jpg 869w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/What-is-GST-300x122.jpg 300w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/What-is-GST-768x311.jpg 768w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/What-is-GST-320x130.jpg 320w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/What-is-GST-370x150.jpg 370w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/What-is-GST-414x168.jpg 414w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/What-is-GST-600x243.jpg 600w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/What-is-GST-372x151.jpg 372w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/What-is-GST-450x182.jpg 450w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/What-is-GST-380x154.jpg 380w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/05\/What-is-GST-285x115.jpg 285w\" sizes=\"auto, (max-width: 869px) 100vw, 869px\" \/><\/figure><\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-columns container w-auto country-quick-link is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:33%\"><div class=\"block-buttons bg-anti-flash-white rounded p-24 h-100 xs-h-auto\" style=\"background-color: #f2f5f7 !important;\">\n  <div class=\"d-grid grid-col-1 grid-col-xs-1 mb-12\">\n    <h4 class=\"not-for-table-content fs-24 fw-700\" id=\"heading-most-popular\">Most Popular<\/h4>\n  <\/div>\n  <div>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/freight-forwarding\/\">\n        Introduction to Freight Forwarding      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/freight-forwarding\/difference-between-igm-bill-of-entry\/\">\n        Import General Manifest (IGM) &amp; a Bill of Entry      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/freight-forwarding\/fcl-full-container-load-versus-lcl\/\">\n        Full Container Loads vs Less than Container Loads      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/freight-forwarding\/inbound-logistics-definition\/\">\n        Inbound Logistics      <\/a>\n      <\/div>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:22%\"><div class=\"block-buttons bg-anti-flash-white rounded p-24 h-100 xs-h-auto\" style=\"background-color: #ebf5f4 !important;\">\n  <div class=\"d-grid grid-col-1 grid-col-xs-1 mb-12\">\n    <h4 class=\"not-for-table-content fs-24 fw-700\" id=\"heading-modes-of-transport\">Modes of Transport<\/h4>\n  <\/div>\n  <div>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/freight-forwarding\/air-freight\/\">\n        Air Freight      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/freight-forwarding\/container-shipping\/\">\n        Container Shipping      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/freight-forwarding\/ocean-freight\/\">\n        Ocean Freight      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/freight-forwarding\/air-cargo-manifest\/\">\n        Air Cargo Manifest      <\/a>\n      <\/div>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:22%\"><div class=\"block-buttons bg-anti-flash-white rounded p-24 h-100 xs-h-auto\" style=\"background-color: #e5f5ff !important;\">\n  <div class=\"d-grid grid-col-1 grid-col-xs-1 mb-12\">\n    <h4 class=\"not-for-table-content fs-24 fw-700\" id=\"heading-documentation-processes\">Documentation &#038; Processes<\/h4>\n  <\/div>\n  <div>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/freight-forwarding\/bill-of-lading-bl-bol\/\">\n        Bill of Lading (BL)      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/freight-forwarding\/demurrage\/\">\n        Demurrage      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/freight-forwarding\/telex-release\/\">\n        Telex Releases      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/freight-forwarding\/reefer-containers\/\">\n        Reefer Containers      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/freight-forwarding\/what-is-igst-sgst-and-cgst\/\">\n        IGST, SGST &amp; CGST      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/freight-forwarding\/marine-insurance\/\">\n        Marine Insurance      <\/a>\n      <\/div>\n<\/div><\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:22%\"><div class=\"block-buttons bg-anti-flash-white rounded p-24 h-100 xs-h-auto\" style=\"background-color: #E6FAFE !important;\">\n  <div class=\"d-grid grid-col-1 grid-col-xs-1 mb-12\">\n    <h4 class=\"not-for-table-content fs-24 fw-700\" id=\"heading-logistics-management\">Logistics Management<\/h4>\n  <\/div>\n  <div>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/what-is-cfs\/\">\n        Container Freight Stations      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/what-is-cy-cy\/\">\n        Container Yards (CY)      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/freight-forwarding\/dsv-tracking\/\">\n        DSV Tracking      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/freight-forwarding\/shipping-management-software\/\">\n        Shipping Management Software      <\/a>\n          <a class=\"d-inline-block mr-10 mb-10 py-8 px-16 rounded bordered border-light text-black bg-white fs-14 fw-700\" href=\"https:\/\/www.tradefinanceglobal.com\/freight-forwarding\/explained-port-and-starboard\/\">\n        Port &amp; Starboard      <\/a>\n      <\/div>\n<\/div><\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-columns container w-auto is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:33.33%\"><div class=\"bg-light-blue d-flex gap-16 h-auto p-16 rounded xs-flex-direction-column\">\n    <div class=\"\">\n    <img decoding=\"async\" style=\"min-width:100px;max-width: 150px\" src=\"https:\/\/secure.gravatar.com\/avatar\/e76723ef35540b976c89c84418177c23?s=160&#038;d=mm&#038;r=g\" class=\"w-100 rounded\">\n  <\/div>\n  <div class=\"col-span-2 col-span-xs-1\">\n    <div class=\"d-flex flex-direction-column gap-16 fs-16 justify-content-between\">\n      <div class=\"fs-16 fw-700\">Brian Canup<\/div>\n      <div class=\"fs-14 fw-400 elipsise-2-line\" title=\"Brian Canup is a former Editorial &amp; Research Assistant at Trade Finance Global (TFG). He graduated with an MA in International Political Economy from King's College London, and a BA in Political Science from the University of Wisconsin-Madison.\">\n        Brian Canup is a former Editorial &amp; Research Assistant at Trade Finance Global (TFG). He graduated with an MA in International Political Economy from King&#8217;s College London, and a BA in Political Science from the University of Wisconsin-Madison.      <\/div>\n      <div>\n        <a class=\"text-black fs-12 small-link-arrow-right\" href=\"https:\/\/www.tradefinanceglobal.com\/posts\/?author=491\">\n          <span>\n            Latest Post          <\/span>\n        <\/a>\n      <\/div>\n    <\/div>\n  <\/div>\n<\/div>\n\n\n<p><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"600\" height=\"600\" src=\"https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/06\/GST-Bill-Of-Entry.jpg\" alt=\"\" class=\"wp-image-115525\" srcset=\"https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/06\/GST-Bill-Of-Entry.jpg 600w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/06\/GST-Bill-Of-Entry-300x300.jpg 300w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/06\/GST-Bill-Of-Entry-150x150.jpg 150w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/06\/GST-Bill-Of-Entry-320x320.jpg 320w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/06\/GST-Bill-Of-Entry-370x370.jpg 370w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/06\/GST-Bill-Of-Entry-414x414.jpg 414w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/06\/GST-Bill-Of-Entry-200x200.jpg 200w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/06\/GST-Bill-Of-Entry-250x250.jpg 250w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/06\/GST-Bill-Of-Entry-162x162.jpg 162w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/06\/GST-Bill-Of-Entry-159x159.jpg 159w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/06\/GST-Bill-Of-Entry-123x123.jpg 123w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/06\/GST-Bill-Of-Entry-190x190.jpg 190w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/figure>\n\n\n\n<p><\/p>\n\n\n<div class=\"block-cta max-w-100 p-32 h-auto rounded sm-w-60 dark-mode bg-black align wp-block-acf-block-cta\">\n  <h4 id=\"heading-access-trade-receivables-and-supply-chain-finance\" class=\"fs-24 fw-700 elipsise-2-line dark:color-white not-for-table-content\">\n    Access trade, receivables and supply chain finance  <\/h4>\n  <p class=\"block-subtitle dark:color-white\">We assist companies to access trade and receivables finance through our relationships with 270+ banks, funds and alternative finance houses.<\/p>\n  <a href=\"https:\/\/www.tradefinanceglobal.com\/get-trade-finance\/\" class=\"dark:text-black px-16 py-8 rounded bg-black text-white fs-14 fw-700 dark:bg-tale\">\n    <span>Get started<\/span>\n  <\/a>\n<\/div>\n\n\n<p><\/p>\n\n\n<div class=\"block-cta p-24 h-auto rounded\">\n    <h4 id=\"heading-want-to-learn-more-about-trade-finance\" class=\"fs-24 fw-700 elipsise-2-line dark:color-white not-for-table-content\">\n    Want to learn more about trade finance?  <\/h4>\n  <p class=\"fs-16 fw-400 dark:color-white\">Download our free guides<\/p>\n  <div class=\"mb-20\">\n    <img loading='lazy' alt='new_cta_logo (2)' style='width:auto; height:200px'  width='auto' height='auto' src='https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/06\/new_cta_logo-2-150x150.jpg' srcset='https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/06\/new_cta_logo-2-300x176.jpg 300w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/06\/new_cta_logo-2-320x188.jpg 320w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/06\/new_cta_logo-2-276x162.jpg 276w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/06\/new_cta_logo-2-271x159.jpg 271w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/06\/new_cta_logo-2-210x123.jpg 210w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/06\/new_cta_logo-2-285x167.jpg 285w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/06\/new_cta_logo-2.jpg 322w' \/>  <\/div>\n      <a href=\"https:\/\/www.tradefinanceglobal.com\/login\/?redirect_url=https%3A%2F%2Fwww.tradefinanceglobal.com%2Fwp-json%2Fwp%2Fv2%2Fpages%2F13239\"  class=\"dark:text-black px-16 py-8 rounded bg-black text-white fs-14 fw-700 dark:bg-tale\">\n      <span>Download<\/span>\n    <\/a>\n    <\/div>\n\n\n<p><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-content\">Content<\/h3>\n\n\n<div class=\"block-table-content h-auto bg-white auto\">\n    <ul class=\"table-content\"><\/ul><\/div><\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:66.66%\">\n<h2 class=\"wp-block-heading\">What is GST, and What is a GST Bill Of Entry?<\/h2>\n\n\n<div class=\"block-content align bg-tale rounded p-24 h-auto fs-16 wp-block-acf-block-content\"style=\"background-color: ;color: #002F4D;\"\n>\n    <p>This post tries to answer the following in the most straightforward way possible.<\/p>\n<ul>\n<li>What is GST?<\/li>\n<li>What is a GST Bill of Entry<\/li>\n<\/ul>\n<p>If you\u2019d like to understand the importance of these tax issues, read on.<\/p>\n<\/div>\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>What is GST?<\/strong><\/h2>\n\n\n\n<p style=\"font-size:16px\">The GST (Goods and Service Tax) is a form of indirect taxation that was put into action to replace many other indirect taxes in India.<\/p>\n\n\n\n<p style=\"font-size:16px\">On the 29th of March in 2017, the Parliament passed the Goods and Service Tax Act, which came into effect on the 1st&nbsp;of July, 2017. &nbsp;Now, GST is levied on every value addition in India. It is destination-based, comprehensive, and multi-stage.<\/p>\n\n\n\n<ul class=\"wp-block-list\" style=\"font-size:16px\">\n<li style=\"font-size:16px\"><strong><em>Value addition<\/em><\/strong>&nbsp;\u2013 This means that GST is levied on any value additions before the end product is completed. A \u2018value addition\u2019 is the monetary worth of every item added at each stage leading up to the final product that is consumed by the end customer.<\/li>\n\n\n\n<li style=\"font-size:16px\"><strong><em>Destination-based<\/em><\/strong>&nbsp;\u2013 This means that the tax is levied when and where goods are sold to the final customer. In other words, destination-based GST is levied at the point of consumption, not at the point of production.<\/li>\n\n\n\n<li style=\"font-size:16px\"><strong><em>Multi-stage<\/em><\/strong>&nbsp;\u2013 Before goods reach their final sale to the consumer from the manufacturer, they pass through a series of supply chains. This includes the purchase of raw materials and production and extends all the way to the sale to end consumers. Since GST is levied at each of the stages, it is a multi-stage tax.<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>In Other Words\u2026<\/strong><\/h2>\n\n\n\n<p style=\"font-size:16px\">You can simply define GST as one indirect tax for the whole country.<\/p>\n\n\n\n<p style=\"font-size:16px\">When we speak of a GST regime, we mean that the tax will be entirely levied at every point of sale without any omission whatsoever. For instance, in the case of intra-state sales, we have Central GST as well as State GST charges at every stage of all transactions. In the other cases of inter-state sales, Integrated GST will be charged.<\/p>\n\n\n\n<p style=\"font-size:16px\"><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>The History of GST in India<\/strong><\/h2>\n\n\n\n<p style=\"font-size:16px\">How did GST become law in India? &nbsp;It is the result of draft law by a committee in the year 2000. It took about 17 years to iron out the details and get the policy recognized as a tax law.<\/p>\n\n\n\n<p style=\"font-size:16px\">The GST Bill was finally passed in the Rajya Sabha and Lok Sabha in 2017. It came into effect on the 1st&nbsp;of July, 2017.<\/p>\n\n\n\n<p style=\"font-size:16px\">So, the GST policy in India is not the result of a quick draft but rather a process that came into effect after almost two decades from the bill\u2019s introduction.<\/p>\n\n\n\n<p style=\"font-size:16px\"><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>What are the Advantages of GST?<\/strong><\/h2>\n\n\n\n<p style=\"font-size:16px\">The main benefit of the GST is its ability to remove the cascading tax effect on the sale of goods and services. This has the direct impact of decreasing the overall cost of all products.<\/p>\n\n\n\n<p style=\"font-size:16px\">GST activities like registration, return filing, and others are done online on the GST Portal, and thus the process is swift and fast.<\/p>\n\n\n\n<p style=\"font-size:16px\">Some of the advantages of GST include:<\/p>\n\n\n\n<ol class=\"fs-16 wp-block-list\">\n<li style=\"font-size:16px\">Elimination of the cascading tax effect<\/li>\n\n\n\n<li style=\"font-size:16px\">Fewer compliance processes<\/li>\n\n\n\n<li style=\"font-size:16px\">A composition scheme for small businesses<\/li>\n\n\n\n<li style=\"font-size:16px\">Higher registration threshold<\/li>\n\n\n\n<li style=\"font-size:16px\">Increased logistics efficiencies<\/li>\n\n\n\n<li style=\"font-size:16px\">Digitization<\/li>\n\n\n\n<li style=\"font-size:16px\">Regulation of the extra-legal sector<\/li>\n\n\n\n<li style=\"font-size:16px\">Definition of treatment for e-commerce<\/li>\n<\/ol>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Categories of GST<\/strong><\/h2>\n\n\n\n<p style=\"font-size:16px\">Under GST, there are three taxes that are applicable, including:<\/p>\n\n\n\n<ol class=\"fs-16 wp-block-list\">\n<li style=\"font-size:16px\"><strong>CGST<\/strong>&nbsp;\u2013 Which the Central Government collects for an intra-state sale.<\/li>\n\n\n\n<li style=\"font-size:16px\"><strong>SGST<\/strong>&nbsp;\u2013 Collected by the State Government for an intra-state sale.<\/li>\n\n\n\n<li style=\"font-size:16px\"><strong>IGST&nbsp;<\/strong>\u2013 Collected by the Central Government for an inter-state sale.<\/li>\n<\/ol>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Now that we know what GST is, and what it entails, here is an explanation for the GST Bill of Entry.<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>What is the GST Bill of Entry?<\/strong><\/h3>\n\n\n\n<p style=\"font-size:16px\">A Bill of Entry is a declaration form filled by the&nbsp;<a href=\"https:\/\/www.tradefinanceglobal.com\/services\/for-importers\/\">importer<\/a>&nbsp;or his clearing agent with the Customs department.<\/p>\n\n\n\n<p style=\"font-size:16px\">For you to initiate the customs clearance formalities, a bill of entry must be filled along with other requisite documents on or before the arrival of goods. After that, the bill of entry is filled, and an authorized Customs Officer checks it. For it to clear, the importer must pay the Basic customs duty, IGST, and GST Compensation Cess.<\/p>\n\n\n\n<p style=\"font-size:16px\">If the Bill of Entry is not filled within the stipulated time of 30 days after the arrival of goods, then the cargo may be subjected to auction by the relevant authorities.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Classification of Goods<\/strong><\/h3>\n\n\n\n<p style=\"font-size:16px\">Goods on arrival at the Customs department are classified into three categories. They include:<\/p>\n\n\n\n<ol class=\"fs-16 wp-block-list\">\n<li style=\"font-size:16px\"><strong>Free Goods&nbsp;<\/strong>that are not subject to any customs duty.<\/li>\n\n\n\n<li style=\"font-size:16px\"><strong>Goods for Home Consumption<\/strong>&nbsp;that are solely imported for self-consumption.<\/li>\n\n\n\n<li style=\"font-size:16px\"><strong>Bonded Goods<\/strong>&nbsp;that are subject to customs duty, and can only be released only when the duty is paid.<\/li>\n<\/ol>\n\n\n\n<p><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>What are the Contents of a Bill of Entry?<\/strong><\/h3>\n\n\n\n<p style=\"font-size:16px\">The Bill of Entry includes the following information:<\/p>\n\n\n\n<ul class=\"wp-block-list\" style=\"font-size:16px\">\n<li style=\"font-size:16px\">Import license number<\/li>\n\n\n\n<li style=\"font-size:16px\">Name and address of the importer<\/li>\n\n\n\n<li style=\"font-size:16px\">Name and address of the exporter<\/li>\n\n\n\n<li style=\"font-size:16px\">Name of the port where goods are to be cleared<\/li>\n\n\n\n<li style=\"font-size:16px\">Rate and value of import duty payable<\/li>\n\n\n\n<li style=\"font-size:16px\">Value of goods<\/li>\n\n\n\n<li style=\"font-size:16px\">Description of goods<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<p style=\"font-size:16px\">Both GST and GST Bills of Entry are crucial considerations for many business owners.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">GST and GST Bill of Entry Examples &amp; Case Study<\/h2>\n\n\n\n<p class=\"bg-anti-flash-white rounded p-24 h-auto\" style=\"font-size:16px\">GST Bills of Entry were required in order to initiate customs clearance facilities for a metals trader based out of Delhi.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column bg-tale rounded p-24 h-auto is-layout-flow wp-block-column-is-layout-flow\">\n<h3 class=\"wp-block-heading\"><strong>Case Study<\/strong><\/h3>\n\n\n<div class=\"block-content align bg-white rounded p-24 h-auto wp-block-acf-block-content\"style=\"background-color: #FFFFFF;color: #002F4D;\"\n>\n    <p style=\"text-align: center;\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-115428\" src=\"https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/06\/scrap-metal-700x300-1.jpg\" alt=\"\" width=\"1000\" height=\"751\" srcset=\"https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/06\/scrap-metal-700x300-1.jpg 350w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/06\/scrap-metal-700x300-1-300x225.jpg 300w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/06\/scrap-metal-700x300-1-320x240.jpg 320w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/06\/scrap-metal-700x300-1-266x200.jpg 266w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/06\/scrap-metal-700x300-1-333x250.jpg 333w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/06\/scrap-metal-700x300-1-216x162.jpg 216w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/06\/scrap-metal-700x300-1-212x159.jpg 212w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/06\/scrap-metal-700x300-1-164x123.jpg 164w, https:\/\/www.tradefinanceglobal.com\/wp-content\/uploads\/2024\/06\/scrap-metal-700x300-1-253x190.jpg 253w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/p>\n<p>&nbsp;<\/p>\n<h4 class=\"member-role\" style=\"text-align: left;\">Metal Distributor<\/h4>\n<p>TFG put us in touch with GST and Tax specialists based locally so that we could continue trading and shipping metals overseas and domestically in India.<\/p>\n<\/div><\/div>\n<\/div>\n\n\n\n<p><\/p>\n\n\n<\/div>\n<\/div>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" 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What is GST? The GST (Goods and Service Tax) is a form of indirect taxation that was put\u2026 <a href=\"https:\/\/www.tradefinanceglobal.com\/freight-forwarding\/what-is-gst-bill-of-entry\/\" class=\"read-more-link\">read more &rarr;<\/a><\/p>\n","protected":false},"author":491,"featured_media":113235,"parent":11166,"menu_order":3,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"content-type":"","ep_exclude_from_search":false,"footnotes":""},"categories":[851],"class_list":["post-13239","page","type-page","status-publish","has-post-thumbnail","hentry","category-freight-forwarding"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.7 (Yoast SEO v24.7) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>GST and GST Bill Of Entry | Shipping &amp; Freight Documents | TFG 2025 Guide<\/title>\n<meta name=\"description\" content=\"[UPDATED 2025] The GST (Goods and Service Tax) is a form of indirect taxation that was put into action to replace many other indirect taxes in India. 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