Is GST payable by importer on Freight amount, if goods are imported on CIF basis?
IGST Not No.8/2017 - S.No.9(ii) - GST @ 5% payable is specified.
- IGST Not No.10/2017 - S.No.10 - Reverse charge :Importer is made liable to pay GST i.e. the recipient of service.
However in case of CIF, the recipient should be the Supplier located outside India as he is liable to pay the freight. And logically it does not make any sense as the importer is already paying IGST on import of goods -goods that include freight charges in their cost.
Need clarification.
CAclubindia
