Frieght and insurance to be included as composite supply

[Sudhir M]

Company adopt a composite GST rate for the total invoice value, or apply separate GST rates for each individual component (i.e., goods, freight, and insurance) in the export invoice

What HSN/SAC code and corresponding GST rate should be applied to the freight and insurance components included in the export invoice under the IGST payment route?

Is the Company eligible to claim a refund of the IGST paid on the freight and insurance components of the export transaction?

AI Summary

GST Export Invoices: Composite Rate Applies to Freight, Insurance as Principal Supply Under Export Rules A discussion forum explores GST treatment for export invoices involving freight and insurance components. Participants agree that companies can apply a composite GST rate matching the goods' rate, treating freight and insurance as part of the principal supply. The entire invoice value can be eligible for IGST refund, subject to compliance with regulatory conditions and proper documentation under export transaction rules.