RCM on Ocean Freight
This query is : Resolved
13 January 2020
We had imported goods on CIF Basis.
1) If Freight is not mentioned in invoice and bill of entry then how to calculate freight amount to pay GST on RCM basis?
2) Whether Foreign Exchange Rate mentioned in Bill of Entry is to be used to calculate RCM?
Please resolve my Query as soon as possibe. Thanks in advance.
1) If Freight is not mentioned in invoice and bill of entry then how to calculate freight amount to pay GST on RCM basis?
2) Whether Foreign Exchange Rate mentioned in Bill of Entry is to be used to calculate RCM?
Please resolve my Query as soon as possibe. Thanks in advance.
13 January 2020
The value of ocean freight would be deemed as 10% of the CIF Value, when the freight amount not known.
13 January 2020
Mam, whether exchange rate mentioned on bill of entry is used to calculate RCM ?
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