Taxpayers Can Claim IGST Refund On Ocean Freight: Experts On SC Ruling
The Morning Standard|May 23, 2022
Taxpayers who have paid GST on 'Ocean Freight' on imported goods will be entitled to claim refunds, following the Supreme Court verdict, provided they have not claimed input tax credit, experts said.
Taxpayers Can Claim IGST Refund On Ocean Freight: Experts On SC Ruling

NEW DELHI:

Giving its ruling in the Mohit Minerals case, the Supreme Court held that since the Indian importer is liable to pay IGST on the 'composite supply', comprising of supply of goods and supply of services of transportation, insurance, etc in a CIF (Cost Insurance Freight) contract, a separate levy on the Indian importer for the 'supply of services' by the shipping line would be in violation of the CGST Act.

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THE MORNING STANDARD DERGISINDEN DAHA FAZLA HIKAYETümünü görüntüle
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The Morning Standard

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The Morning Standard

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‘Low credibility': Exit polls should be banned, says AAP
The Morning Standard

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Security tightened for vote count across seven centres
The Morning Standard

Security tightened for vote count across seven centres

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CEC seeks proof as Oppn alleges BJP attempt to influence counting
The Morning Standard

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ED: Kavitha's proceeds of crime valued at ₹293 crore
The Morning Standard

ED: Kavitha's proceeds of crime valued at ₹293 crore

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The Morning Standard

Markets on steroids with highest single-day jump in three years

BUOYED by exit poll predictions of a comfortable victory for Prime Minister Narendra Modi's BJP in the general elections, equity markets Nifty and Sensex went up by more than 3% on Monday, the highest singleday jump in three years.

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The Morning Standard

27-year-old daughter of Maha IAS couple jumps from Nariman Point high-rise, dies

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B'luru records 111 mm rain in a day - 1st in 100 yrs
The Morning Standard

B'luru records 111 mm rain in a day - 1st in 100 yrs

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Be counted: City to make choice amid tight security
The Morning Standard

Be counted: City to make choice amid tight security

YOU'D know it all on June 4-what it meant to vote and be counted in Delhi. The counting will begin at 7 am on Tuesday, 10 days after the fate of 162 candidates was sealed.

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