SC: No IGST on Ocean Freight under RCM for CIF Import

The Hon'ble Supreme Court in Union of India & Anr. v. M/s Mohit Minerals Pvt. Ltd.[Civil Appeal No. 1390 of 2022 dated May 19, 2022] upheld the judgement given by the Hon'ble Gujarat High Court to hold that no IGST is payable on ocean freight under Reverse Charge Mechanism ("RCM") for Cost, insurance, and freight ("CIF") imports as Indian importer is liable to pay IGST

source https://www.caclubindia.com/articles/sc-no-igst-on-ocean-freight-under-rcm-for-cif-import-47190.asp