New insights from Economic Laws Practice
A recent decision by a three-judge bench of the Indian Supreme Court has laid to rest a highly contested tax issue—whether Indian importers are liable to pay integrated goods and services tax (IGST) on the component of ocean freight paid for by the foreign seller to the foreign shipping line in a cost, insurance and freight (CIF) contract.
In this article, Kumar Visalaksh (Partner) and Ajitesh Dayal Singh (Associate) of our Indian firm Economic Laws Practice discuss the background of the dispute and analyse the decision of the Supreme Court.
Read the full article here.
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