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Frieght and insurance to be included as composite supply, Goods and Services Tax - GST |
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Frieght and insurance to be included as composite supply |
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Company adopt a composite GST rate for the total invoice value, or apply separate GST rates for each individual component (i.e., goods, freight, and insurance) in the export invoice What HSN/SAC code and corresponding GST rate should be applied to the freight and insurance components included in the export invoice under the IGST payment route? Is the Company eligible to claim a refund of the IGST paid on the freight and insurance components of the export transaction? Posts / Replies Showing Replies 1 to 2 of 2 Records Page: 1
The GST rate of main item applies to other incident items or services.
Freight and insurance would also be liable @ applicable to the goods. Same HSN as that of the goods to be adopted. No restriction on freight and transport insurance. Can claim refund as well subject to fulfillment of conditions. Page: 1 |
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