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Ocean freight RCM applicability

Siva Raj (358 Points)

23 November 2020

Dear all, Right now RCM applicable for Ocean freight or not.

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4 Replies

arun singh (20 Points)
Replied 23 November 2020

No. RCM is not applicable

deepa pg (15 Points)
Replied 24 November 2020

Applicability of GST ocean freight under RCM_ in case of goods imported on CIF basis-pay tax under reverse charge mechanism and take the credit of it.

deepa pg (15 Points)
Replied 24 November 2020

applicability of GST ocean freight under RCM_ in case of goods imported on CIF basis-pay tax under reverse charge mechanism and take the credit of it.

Pankaj Rawat (GST Practitioner) (55030 Points)
Replied 26 November 2020

- IGST Notification No.8/2017 - In page no.5 & 6, under S.No.9(ii) - GST @ 5% payable is specified under RCM on ocean freight.

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.