VATupdate

Share this post on

IGST Levied On Ocean Freight Not To Be Reviewed By GST Department

A previous decision of the High Court held that under the GST law, importers are required to pay IGST at a rate of 5 percent on ocean freight services under the Reverse Charge Mechanism (RCM), whereby the duty of the importer is responsible for paying the IGST on behalf of the foreign buyer.

Source: thelogicalindian.com

Sponsors:

VAT news

Advertisements: