What should be date of booking the rcm liability on ocean freight (import of goods)?

RCM 519 views 2 replies

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

Replies (2)
As per sec 13(3) Of CGST Act TOS Shall be earliee of following-
1. Date of payment by reciepient
2.61st day from the date of invoice

And if TOS cant be determined by above the then the date on which Recipient pass entry in his books for receipt of supply

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...
Originally posted by : Saket Mishra
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.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 14 March 2026
Article Trainee

N N V Satish&co

Hyderabad

CA Inter

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 12 March 2026
Customer Relationship Executive

TAXLET

Calicut

B.Com

View Details