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RCM on ocean freight
I had imported some goods and on which the ocean freight has not been mentioned in the import bill. whether i would have pay rcm on ocean freight which is unknown. If so how to calculate ocean freight in this regard.
Replies (1)
When Import is on CIF basis, the Bill of does not show Freight amount separately. 10% of the CIF value is determined as freight amount. on that freight amount 5% IGST is payable as Ocean freight.
Inspector Prabhat
Inspector Prabhat
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