Web− Refund of IGST paid on Ocean Freight − Cancellation of GST registration . CASE LAWS AAR / AAAR − Inter-state movement of pallets, crates & ... Key GST Notifications pursuant to 44th GST Council Meeting . Notification No. and date Particulars . Notification N. o. ... INR 2 crores in FY 2024 -21 from filing annual return for the said year. WebOct 3, 2024 · As per Notification No. 8/2024-Integrated Tax (Rat should be levied at 18% on Ocean freight on export of goods. dated 28 june 2024 under heading 9965 (v) …
Actual freight and insurance should be declared on shipping bills: Expert
WebIn light of the fact that IGST were paid at the time of import on the freight components (ocean freight), the notifications requiring the importer to once again pay IGST on the same components tantamount to double taxation and thus is illegal and unconstitutional. WebThis Tax Alert summarizes a recent notification[1] issued by Central Board of Indirect Taxes and Customs (CBIC) under Goods and Services Tax (GST). Services by way of … faro web login
Taxability of Ocean freight under GST - TaxGuru
WebDec 16, 2024 · A provision in the Central GST Act permitted levy of both basic customs duty and IGST on the cost, insurance and freight (CIF) value of goods brought into India. A government notification later also extended IGST to ocean freight on importers on the reverse charge mechanism. WebOct 5, 2024 · India – Goods & Service Tax (GST) Applicability on Export Ocean Freight. The India Ministry of Finance (Department of Revenue) vide their notification no. No … WebOct 3, 2024 · APPLICABILITY OF GST ON EXPORT OCEAN FREIGHT – w.e.f. 1st Oct 2024 Monday, October 3, 2024 Dear Valued Customer, This is to inform you that notification No. 07/2024 – Central Tax (Rate) dated 30th September 2024 has not been extended beyond 30th September 2024, and this means that Export freight will now be … faro wetter 16 tage