GST on Ocean Freight

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....ST on Ocean Freight<br> Query (Issue) Started By: - Kaustubh Karandikar Dated:- 12-6-2020 Last Reply Date:- 30-5-2021 Goods and Services Tax - GST<br>Got 4 Replies<br>GST<br>In case of GST under reverse charge on ocean freight, for FOB contracts, importer to pay IGST @ 5% as per Sr. No.9(ii) of Notification. No. 8/2017-Integrated Tax (Rate) on freight charges paid to the foreign shipping line. In ....

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....case of CIF Contracts, importer to pay IGST @ 5% as per Sr. No.9(ii) of Notification. No. 8/2017-Integrated Tax (Rate) on 10% of the CIF value as per Bill of Entry (Without considering the Gujarat High Court decision). Is my understanding correct? Reply By Rajagopalan Ranganathan: The Reply: Sir, Your understanding is correct. Reply By Ganeshan Kalyani: The Reply: Sir, it is advisable to pay ....

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....IGST and claim credit, subject to condition. Reply By ARVIND JAIN: The Reply: 1) If RCM on ocean freight is not paid for FY 18-19 and 19-20, than for 18-19 the date of claiming input credit is gone (20.9.2019) and for 19-20 it can be shown in current 3b of September 2020 and it can be claimed in 20-21 (Or 19-20 ??? I doubt) as paid before 20.10.2020. ( 2) And any RCM paid via DRC 03 on this mat....

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....ter will not be eligible for Input. Is my understanding correct and is there any other way or just rely on Gujrat high court judgement and not paying RCM at all. Reply By Amresh kumar: The Reply: Dear sir, Refer Notfn 02/2018 central tax vide which is amendment of Notfn 2/2017 dated 28.06.2017. After sr no 19 19A and 19 B is inserted. My view is this is reg ocean & Air freight which is exempte....

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....d till September 2018.last notfn is 4/2020 dtd 30/09/2020 vide which exemption is valid till October 2021. Correct me it these are related with ocean freight or not.<br> Discussion Forum - Knowledge Sharing ....