https://www.taxtmi.com/forum/issue?id=119904 IGST on ocean freight under CIF imports is payable by the importer under the reverse charge mechanism. Convert the foreign-currency freight to Indian currency using the CBIC exchange rate on the Bill of Entry date, compute IGST on that INR value, and pay the tax through the GST portal to the government. Shipping lines may invoice freight in foreign currency, but IGST is the importer's statutory liability and is not to be paid to the carrier; claim Input Tax Credit where eligible and first confirm whether GST liability arises for the specific freight. en-us Wed, 23 Apr 2025 14:23:53 +0530 Wed, 21 May 2025 04:36:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=119904 IGST on ocean freight under CIF imports is payable by the importer under the reverse charge mechanism. Convert the foreign-currency freight to Indian currency using the CBIC exchange rate on the Bill of Entry date, compute IGST on that INR value, and pay the tax through the GST portal to the government. Shipping lines may invoice freight in foreign currency, but IGST is the importer's statutory liability and is not to be paid to the carrier; claim Input Tax Credit where eligible and first confirm whether GST liability arises for the specific freight. Discussion-Forum FEMA Wed, 23 Apr 2025 14:23:53 +0530 https://www.taxtmi.com/forum/issue?id=119904