WebJul 5, 2024 · The Applicant shall be liable to pay IGST on ocean freight paid on imported goods under Reverse Charge Mechanism in terms of Notification No.10/2024-lT(R) and … Web12.2 In the event that non-commercial cargo must be shipped due to reasons attributable to Seller, including the Seller’s errors in preparation of transport documents, or incorrect negotiation against the transport documents, Seller shall deliver such cargo to the Site and shall pay all costs including the ocean freight, premium, expenses for inland …
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All about Reverse Charge Mechanism (RCM) under GST
WebJun 24, 2024 · Hence, if the ocean shipping line is located in non-taxable territory, GST is to be paid under RCM by the recipient of service, i.e. the importer. 2. Imports of goods on CIF … WebMay 18, 2024 · The controversy relating to taxation of ocean freight under RCM finds its roots from service tax regime wherein such levy was first introduced, by way of RCM, with … WebMay 23, 2024 · Analysis of Recent Supreme Court Judgement dismissing petition of Union of India in case of RCM on Ocean Freight. Introduction. Supreme Court in its order dated … northcrown construction