GST Exemption on Ocean Freight from October 2023: Important Amendments by CBIC

• CBIC issued a notification on 26.09.2023 regarding taxation on ocean freight under IGST in India
• Currently, importers have to pay 5% GST on ocean freight under the Reverse Charge Mechanism
• The new notification No.12 exempts payments and IGST liability for goods imported through ocean freight from outside India starting October 2023

Source: kofax.com

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.