Dear Experts,
Since IGST to be paid on reverse charge basis on Ocean Freight as per IGST Notification Nos. 8/2017 and 10/2017, on which date (from the below given dates) the RCM liability on ocean freight should be booked?
1. 12-June-2019 - Date shipped on Board by Foreign Shipper
2. 29-June-2019 - Bill of Entry date
3. 30-June-2019 - Date Goods/Ship arrived at Destination Port
4. 01-July-2019 - Date Goods dispatched from Port
5. 02-July-2019 - Date Goods received by Importer
Regards
| Originally posted by : Saket Mishra | ||
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In your case liablity TOS shall be earlier of following 1. Date on which you make payment to Foreign shipping co OR 2. 61st day from the date of Invoice issued by Foreign shipping co... |  |
Dear Saket,
The supplier of Goods sold on C&F terms. Thus, the "recipient" of (shipping) service in this case is the foreign seller of goods.
So, in this case, Ocean Freight was billed-to and paid by the Foreign seller of goods.
And therefore, the Importer did NOT receive the invoice. Hence cannot determine TOS.
Now, to determine TOS, it looks like will have to go with the date on which the recipient passed entry in his books for receipt of supply.
Let me know if you differ..
Thanks.
CAclubindia
