MANSA hails government’s exemption of 5% integrated GST on ‘ocean freight’ on import from 1st Octobe…
MUMBAI : The Finance Ministry has notified changes to the IGST Act exempting payment of 5% integrated GST under reverse charge mechanism on ‘ocean freight’ on imports by CIF (Cost, Insurance and Freight) contract,
GST Council is likely to discuss tax parity for foreign and Indian shipping lines
NEW DELHI : The Goods and Services Tax (GST) Council is likely to discuss the issue of bringing parity in taxation on Indian and foreign shipping lines to Indian exporters on February 18, sources