NOC issued in respect of freight charges.

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....artments and PSUs/Autonomous Bodies should finalise their import contracts on FOB basis and shipping arrangements for cargo are to be made by the Chartering Wing (TRANSCHART) of Ministry of Surface Transport. For making shipping arrangements cargo preference is given to Indian ships without any price preference. In the event of non-availability of suitable Indian vessels in required position, fore....

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....r the import of cargo is unloaded in India. At the time of remittances of this 10%, the normal practice has been to issue a No objection Certificate for the remittance of 10% without deduction of tax at source on the ground that income has not accrued in India. The Reserve Bank of India is, however, now insisting that an NOC should be obtained in respect of the entire 100% of the freight charge....