High seas sale ocean freight gst

WE ARE PURCHASING IMPORT MATERIAL ON HIGH SEAS BASIS

IN THIS CONNECTION MY QUESTION IS ON WHICH CIF VALUE GST  ON OCEAN GREIGHT WILL PAID

In bill of entry there are two value- 1)Invoice value,2) Assessable value.

please guide us

Replies (2)
Quick Summary
This discussion seeks clarification on calculating Goods and Services Tax (GST) for ocean freight on high seas sales. The user is asking on which CIF value GST on ocean freight should be paid when purchasing import materials on a high seas basis. They specifically want to know whether to use the invoice value or the assessable value for IGST calculation on the Bill of Entry.

Assesable value
IGST @ .5% of assessable value mentioned in BoE

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