GST
TRT-2025-
Date:-22-08-22
In:-
Issue Favourable to Tax Payer ?:-
News Date: 23 August 2022
- The move comes after the Supreme Court struck down the IGST on ocean freight. This is likely to bring relief to importers awaiting clarity and tax refunds post the judgment.
- People familiar with the deliberations told ET that the legal review post the Mohit Mineral case verdict is over and a proposal to remove the tax would be taken to the council. “Both the law ministry and law committee of the GST Council is of the view that the IGST on ocean freight must be scrapped as per the Supreme Court verdict,” an official quoted above said.
- The official added that this would be part of the GST Council’s agenda for the upcoming meeting.
- A draft circular will also be presented to the council and circulated once cleared. The council meeting is scheduled to take place in Madurai next month.
Source-https://m.economictimes.com/industry/banking/finance/igst-on-ocean-freight-likely-to-be-scrapped/amp_articleshow/93716398.cms
