Tag: CIF and FOB contracts

GST Article

Whether IGST is payable under RCM for services in Free-On-Board contract?

byCA Ritesh Arora

The Honorable Bombay High Court in the case of M/s. Agarwal Coal Corporation Pvt. Ltd. set aside the Show Cause Notice issued by the Revenue Department based on the Notification No. 08/2017-Integrated Tax (Rate) dated 28.06.2017 which has been held ultra vires as per the judgement of Gujarat High Court in the case of Mohit Minerals Pvt. Ltd. which was further affirmed by the Honorable Supreme Court in the case of Mohit Minerals Pvt. Ltd..

GST ArticleHigh Court

IGST is not payable under RCM for services in Free-on-Board and Cost Insurance Freight Contract

byCA Bimal Jain

The Hon’ble Bombay High Court in the case of M/s. Agarwal Coal Corporation Pvt. Ltd. set aside the Show Cause Notice issued by the Revenue Department based on the Notification No. 08/2017-Integrated Tax (Rate) dated June 28, 2017 which has been held ultra vires as per the judgment of Division Bench of Hon’ble Gujarat High Court in the case of Mohit Minerals Pvt. Ltd.