06 January 2022
Respected All, Good evening. We r importing materials whose gst rate in India is 12% and this is on FoB terms. Since this is on FoB basis, the ocean freight will also become a part of assessable value during custom clearance. We r paying this ocean freght to the service provider/forwarder in INR with gst @5% in India.
My question is that, CAN WE CLAIM IMPUTS OF THIS OCEAN FREIGHT..?
Yours valuable reply will be highly n humbly appreciated. Also requested to share any documentary reference in this regard, if any.
CAclubindia
