No IGST on Ocean Freight in CIF Contracts – Changes Notified
The issue of IGST on ocean freight was debated and litigated in the past and had divergent rulings. In order to end the dispute on taxation on ocean freight in the CIF contract, the CBIC vide Notification Nos. 11/2023, 12/2023, 13/2023-Integrated Tax (Rate), all dated September 26, 2023 made the following changes: