ISSUE:
Whether the Central Goods and Services Tax (CGST) Act, 2017 and the Integrated Goods and Services Tax (IGST) Act, 2017 apply to ocean freight under the reverse charge mechanism (RCM) for cost, insurance, and freight (CIF) imports?
RULE:
The Central Goods and Services Tax (CGST) Act, 2017 and the Integrated Goods and Services Tax (IGST) Act, 2017 do not apply to ocean freight under the reverse charge mechanism (RCM) for cost, insurance, freight (CIF) imports.