Applicability of 15ca/cb on s0209 and s0203
This query is : Resolved
23 January 2019
Respected Forum Members,
While making payment to a Foreign (USA) Customer towards Air and Sea Freight Charges in USD($246/-), for this transaction is it mandatory to issue 15 CA and CB to the Banker? The nature of remittance is "Freight Charges" and the Relevant purpose code as per RBI is S0209 and S0203.
Please Advise.
Regards,
Pradeep.S
While making payment to a Foreign (USA) Customer towards Air and Sea Freight Charges in USD($246/-), for this transaction is it mandatory to issue 15 CA and CB to the Banker? The nature of remittance is "Freight Charges" and the Relevant purpose code as per RBI is S0209 and S0203.
Please Advise.
Regards,
Pradeep.S
Nilesh Gami
(Expert)
23 January 2019
Form 15 CA and CB are required to be furnished when payment is chargeable to tax as per income tax act in India. So it depends on whether nature of remittance is chargeable to tax or not. I believe freight charges are taxable for non-resident in India.
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