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Jan 29, 2019 · Under the present article we would see the GST rates as applicable to freight charges, exemption list and fixing of the GST liability on freight charges. GST RATE ON FREIGHT CHARGES – The rate of GST on freight charges is 5%.
Rate of GST on Freight Charges. Freight charges essentially mean a charge that is paid for transportation or carriage of goods. Such GST on transportation charges can be undertaken by way of land, air, or sea. GST rate on freight charges, as indicated above, are – (1) 5% (without input tax credit), (2) 12% (with input tax credit).
If you need information about the "Effective Date" for every GST or cess rates, then please visit the CBIC website. Do much more than verifying HSN/SAC codes with ClearTax GST , India's most trusted billing and GST solution where reconciliation is made easy through intelligent inbuilt validations and tools.
Under GST, tax rates on shipping, freight, and logistics charges have changed. Domestic and international transportation charges have different GST rates. The place of supply for transportation services determines tax liability under GST.
Jan 18, 2019 · The rate of GST on freight charges provided by the GTA is given below: GST on freight charges in the Supply Invoice. GST would be levied the on value of supply as per normal rate which would depend on the goods that are supplied.
Dec 28, 2021 · GST on Freight in Invoice. GST should be charged on the total value of supply. If the freight charge is included, then GST on freight charges has to be levied at the same rate of tax charged on supply. GST on Freight Forwarding. Freight forwarding and logistics shall be a ‘supply of services’ including the movement of goods by air, sea ...
Jan 30, 2024 · The HSN code for freight charges is 9965 and GST rate is 18%. However, this is general categorization, and the SAC could is further subclassified based on the type of freight by adding two more digits as suffix. Note: 1. Freight is a transportation service involving the movement of goods from one place to another.
Feb 18, 2023 · The GST rate applicable to freight charges is 5% for both intrastate and interstate transportation. It is important to note that this rate is only applicable to the transportation of goods and not to the value of the goods themselves.
May 19, 2020 · The rate of GST needs to be discharged on the freight amount is 5% in accordance with notification 8/2017 – IGST (Rate). The value of ocean freight would be deemed as 10% of the CIF Value, when the freight amount not known.
above, Z would charge IGST from X in terms of sub-section (5) of section 7 of the IGST Act, for supply of services by way of transportation of goods. 3. In the case given in Sl. No. 1, whether the recipient of service of transportation of goods would be eligible to avail input tax credit in respect of the said input service of
