Service tax on Ocen Freight
This query is : Resolved
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
Yes reverse charge applicable in case of foreign shipping line.
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.
20 November 2016
Obtain the details from carrier.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on Deemed Capital Gain
- Type of Capital Gain
- Exiting partner in partnership firm in gst portal
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- Grand in aid
- Gst on travel by air for business purposes
- ASMT-10 received from A O
- IT returns for fresh job holders
- TDS on rent received on hardship compensation being rent on redevelopment of building
- Reporting in TDS return
- CLOSING STOCK QUERY
- F&O reporting in ITR
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
- TDS on property - Form 141 query
- Seeking Advice: High Tax Shortfall on Job Switch + Let-Out House Property Loss in FY 2025-26
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
