Dear Experts,
My Query regarding the Rate of RCM under GST Law.
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Freight on import of Good by Vessels
Replies (1)
Corrigendum to IGST Not No.8/2017, specifies that wherever the taxable value is not available i.e when Freight amount is not known to the Importer, then 10% of the CIF value of Invoice should be taken as Taxable value. The GST payable will be @ 5% on 10% of CIF value or @ 0.5% on CIF value of Goods
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