Extended limitation fails without specific suppression allegations, while overseas employee secondment remains taxable as manpower supply within norma...
Time-share accommodation classification excludes Club or Association Service where purchasers receive contractual occupancy rights without genuine mem...
CENVAT credit for trading requires reversal, while taxable-service rental credit remains proportionately available and limitation issues await resolut...
Vicarious liability for dishonoured company cheques may extend to non-signatory directors where complaints contain foundational responsibility avermen...
Entry No. 10 of Notification No. 10/2017- Integrated Tax (Rate) dated 28.6.2017 was challenged as ultra-vires the IGST Act and Articles 14 and 265 of the Constitution, even for imports on FOB basis. The court held that IGST u/s 5(1) is leviable on the value determined u/s 3 of the Customs Tariff Act, 1975, at the point when customs duties are levied u/s 12 of the Customs Act, 1962. The value includes cost, freight, and insurance at the place of importation. Therefore, whether the transaction is CIF or FOB, IGST is payable on the value, including freight, cost, and insurance. However, following Supreme Court and Bombay High Court judgments, when the notification itself is struck down, IGST cannot be insisted upon for ocean freight in FOB transactions. Consequently, the impugned order was quashed, and the petition was allowed.
Entry No. 10 of Notification No. 10/2017- Integrated Tax (Rate) dated 28.6.2017 was challenged as ultra-vires the IGST Act and Articles 14 and 265 of the Constitution, even for imports on FOB basis. The court held that IGST u/s 5(1) is leviable on the value determined u/s 3 of the Customs Tariff Act, 1975, at the point when customs duties are levied u/s 12 of the Customs Act, 1962. The value includes cost, freight, and insurance at the place of importation. Therefore, whether the transaction is CIF or FOB, IGST is payable on the value, including freight, cost, and insurance. However, following Supreme Court and Bombay High Court judgments, when the notification itself is struck down, IGST cannot be insisted upon for ocean freight in FOB transactions. Consequently, the impugned order was quashed, and the petition was allowed.
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