What is the information on GST that companies should be aware of when importing goods from vendor for subsequent sales locally?

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The goods can be stored in a Free Trade Zone (FTZ) or taken out into Customs territory. GST is suspended when goods are stored in an FTZ.

An In-Payment (GST) permit is required for goods to be removed from the FTZ for local supply. In this case, the taxable value is the Cost, Insurance and Freight (CIF) value.

If there is sale and supply of the goods when they are being stored in the FTZ, the taxable value for GST is based on the last selling price.

What is the information on GST that companies should be aware of when importing goods from vendor for subsequent sales locally?

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