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Import Ocean Freight credit

Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 asked

We can take Import Ocean Freight Service credit & which notification as under

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 answered

In case of services of import of goods provided by freight forwarder, service tax is payable on entire charges, as place of provision of service is ‘taxable territory’ (India). The charges include ocean freight also. Ocean freight from a place outside India up to the first customs station of landing in India is not subject to service tax as it is in negative list of services as per section 66D (p) of Finance Act, 1994.Hence, it may be advisable to split the contract into three – one outside India (as intermediary), second ocean freight (actual basis) and third services within India. Exemption to transportation of food stuff by vessels will be limited to food grains including rice and pulses, flour, milk and salt. For transport by vessel , Service Tax shall be payable on 30% of the value of such service subject to a uniform condition of non-availment of Cenvat Credit on inputs, capital goods and input services with effect from 1st April 2015 for transportation of goods by vessel within India including Ocean Freight.

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 answered

para 4.1 (C) of the D. O. Letter of Joint Secretary to Govt. of India, namely D.O.F. No.334/8/2016-TRU dated 29.02.2016 it is clarified that the entry in the Negative List that covers services by way of transportation of goods by an aircraft or a vessel from a place outside India up to the customs station of clearance [section 66D (p)(ii)] is proposed to be omitted with effect from 1.06.2016. Clause 146 of Finance Bill 2016 may please be seen in this regard. However such services by an aircraft will continue to be exempted by way of exemption notification [Not. No. 25/2012-ST, as amended by notification No. 09/2016-ST dated 1st March, 2016 refers]. The domestic shipping lines registered in India will pay service tax under forward charge while the services availed from foreign shipping line by a business entity located in India will get taxed under reverse charge at the hands of the business entity. The service tax so paid will be available as credit with the Indian manufacturer or service provider availing such services (subject to fulfillment of the other existing conditions). It is clarified that service tax levied on such services shall not be part of value for custom duty purposes. In addition, Cenvat credit of eligible inputs, capital goods and input services is being allowed for providing the service by way of transportation of goods by a vessel from the customs station of clearance in India to a place outside India. Consequential amendments are being made in Cenvat Credit Rules, 2004 [Not. No. 23/2004-CE (N.T.), as amended by Sl. Nos. 2(b) and 5(h) of notification No. 13/2016-C.E. (N.T.) dated refers. ]

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