 "GST")
The Central Board of Indirect Taxes and Customs (CBIC) has decided not to file a review petition in the Supreme Court against the latter's decision to quash integrated goods and services tax (IGST) on ocean freight.
The Board gave this information through its communication to the field formation.
Ocean freight is the cost incurred through an agreement between two foreign parties to ship goods to India. For instance, if goods are exported from Washington, the exporter concerned may enter into an agreement with a shipping line there and pay ocean freight to it.
A provision in the Central GST Act
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