20 November 2016
Dear Experts,
Inward ocen freight is taxable wef 01.06.2016.
The query is whether ocen freight shall attract service tax under reverse charge in case of import on CFR/CIF basis, where seller and shipping line are located outside India.
In case of CFR or CIF purchase, the responsibility of arranging shipping line and payment of freight is on the seller. The purchaser is not a party to the contract for transportation.
Kindly opine.
Thank you.
Best Regards,
Shyam
20 November 2016
Dear Sir,
Suppose an importer is purchasing goods for say USD 500/-. How does he calculate the Service tax. He even does not know the freight that might have been charged.
CAclubindia
