AAR: Subject to HC decision, Importer liable IGST on ocean freight under CIF contract

Karnataka AAR rules that IGST on ocean freight in case of a contract on CIF basis, should be paid by the importer under reverse charge, subject to the final decision of Gujarat HC; Notes that the applicant is engaged in supply of edible oil and they import edible grade crude oil from other countries to Indian port on CIF basis; Remarks that, while consideration relating to transportation of goods in case of import is a part of value of goods as per Rule 10 of Customs Valuatio...