My client from nashik imports copper items on CIF basis, is he required to pay RCM on certain % of CIF amount as was the case in service tax..
Reply
AUTHORITY FOR ADVANCE RULINGS, UTTARAKHAND in case of M/s BAHL PAPER MILLS LTD held that vide notification no. 8/2017- Integrated Tax (Rate) dated 28.6.2017 and notification no. 10/2017- Integrated Tax (Rate) dated 28.6.2017 an importer is required to pay IGST on the ocean freight. Therefore as on date, even if the importer has already paid IGST on CIF value imported goods, he is still required to pay IGST on ocean fright.
Credit of IGST paid can be taken on the basis of invoice/challan issued.
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