TaxTMI 
TaxTMI 
GST on ocean freight for import purchase under RCM
X X X X Extracts X X X X
X X X X Extracts X X X X
....ST on ocean freight for import purchase under RCM<br> Query (Issue) Started By: - Pradeep Sarangi Dated:- 14-2-2023 Last Reply Date:- 16-2-2023 Goods and Services Tax - GST<br>Got 5 Replies<br>GST<br>Dear Expert, is gst applicable on ocean freight for import purchase under RCM ? What is the tax rate & how to calculate the same ? Regards Pradeep Reply By Alkesh Jani: The Reply: Shri Please el....
X X X X Extracts X X X X
X X X X Extracts X X X X
....aborate the query, do you mean GST applicable on ocean freight for import of Goods specified under RCM? Thanks Reply By Pradeep Sarangi: The Reply: Yes Sir, Applicablity of GST on ocean freight for import of goods. As per hon'ble judgement of SC, regarding the case of state of Union vs Mohit Minerals - 2022 (5) TMI 968 - SUPREME COURT. is it applicable for importer under RCM now ? Regards....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... Pradeep Reply By Kiran Tahelani: The Reply: If goods are imported under CIF basis- No Rcm- Mohit Mineral case if goods are importered under FOB basis: ---if shipper is located in india- he will charge gst under forward charge- you dont have to pay under rcm ---if shipper is foreign entity not registered in india- you need discharge gst under RCM-since mohit mineral covers only cif contract.....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... Rate is 5% on actual frieght amount. Note: other experts please correct me if i am wrong. Reply By Alkesh Jani: The Reply: Shri I agree with the views expressed by the expert above. Thanks Reply By Shilpi Jain: The Reply: Liability under RCM exists if you engage the foreign shipper. No liability under RCM in your hands if the foreign exporter has engaged the foreign shipper<br> Discussio....
X X X X Extracts X X X X
X X X X Extracts X X X X
....n Forum - Knowledge Sharing ....