AAR: Rejects challenge to IGST levy on ocean freight for CIF-based imports

Madhya Pradesh AAR holds the applicant liable to pay IGST on ocean freight paid on imported goods under Reverse Charge Mechanism (RCM) in terms of Notification No. 10/2017-Central Tax (Rate) and Notification No. 8/2017-Integrated Tax (Rate) irrespective of the ocean freight component having been a part of the CIF Value of imports; Clarifies that as per existing law, IGST on ocean freight has to be paid by the importer under RCM irrespective of the fact that such freight charg...