HSS transactions fall under Schedule III & are neither supplies of goods nor services

In re Tecnimont Private Limited (GST AAAR Gujarat)

In a recent ruling by the Gujarat Authority for Advance Ruling (GAAR), Tecnimont Private Limited’s appeal regarding GST implications on High Seas Sale (HSS) transactions was deliberated. The case revolves around Tecnimont’s engagement with Indian Oil Corporation Ltd. (IOCL) for a turnkey project involving the Acrylic Acid and Butyl Acrylate units in Vadodara.

Tecnimont, a subsidiary of Tecnimont S.P.A. Milan, Italy, argued that their contract with IO

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