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TMI BlogEntitlement of Common ITC in respect of export and import airfreightX X X X Extracts X X X X X X X X Extracts X X X X ..... Import Ocean Freight: The logistic company hires services of Shipping Company for the transportation of goods on principle to principle basis. The Shipping Companies pays GST under RCM and charges the same to Logistic Company. The logistic Company further charges the same while raising the invoice upon its client. The said transaction is taxable sales with full entitlement of common ITC incurre ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d In the cases where the foreign shipping has raised the invoices upon the logistic Company, it does not charge GST as it does not have a place of business in India. Hence the Logistic Company pays GST under RCM and levies the same in the Sales invoice. The said the transaction is taxable sales with the full entitlement of common ITC incurred The Logistic Company is engaged in the transporta ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion of goods by air within India. The said transaction is liable to tax under GST with the full entitlement of common ITC incurred Export air freight/ocean freight: The logistic company is engaged in the transportation of goods by air/ocean from the customs station for clearance in India to a place outside India. Said transaction is exempt sales with the full entitlement of common ITC incur ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... red Import Air Freight: The logistic Company is engaged in the transportation of goods by air/ocean from a place outside India to custom station for clearance in India. Said transaction is exempt sales and being so such sales would be considered as Exempt Sales for the purpose of reversal of common ITC. As per Rule 42 of the CGST Rule 17 , Definition of exempt supply bas been given in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... explanation inserted after Rule 43 of the CGST Rule . As per the said definition, exemption inter alia does not include transportation of goods by vessel from customs station for clearance in India to place out side India. It does mention any anything about export airfreight and import airfreight. Under such circumstance shall we consider the same exempt and entitled for full set off in respect ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of common ITC? Please advise whether the observation highlighted in bold letter against each circumstance following such observation is as per the provision of GST law? - Entitlement of Common ITC in respect of export and import airfreight - Query Started By: - Manoj Mahimkar Dated:- 26-10-2019 Goods and Services Tax - GST - GST - Discussion Forum - Knowledge Sharing, reply post by an expe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rt, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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