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No Proposal to file review petition on SC verdict on Ocean Freight. Provisions of GST on ocean Freight likely to be quashed.

"No Proposal to file review petition on SC verdict on Ocean Freight. Accordingly, the Council will take up a proposal to issue a circular quashing the provision of levying IGST on ocean freight,” a senior Finance Ministry official told BusinessLine. Further, the circular is also likely to talk about refund.

In its ruling the apex court upheld the ruling by the Gujarat High Court and accordingly struck down levy of IGST on transportation of goods by vessel from a place outside India to a place in India. The same ruling also observed on the non-binding nature of recommendations by GST Council on Centre and States.

People familiar with the deliberations told ET that the legal review post the Mohit Mineral case verdict is over and a proposal to remove the tax would be taken to the council. "Both the law ministry and law committee of the GST Council is of the view that the IGST on ocean freight must be scrapped as per the Supreme Court verdict," an official said.

The official added that this would be part of the GST Council's agenda for the upcoming meeting.

"The proposal is ready and it will be discussed at the next GST Council meeting as the decision to levy IGST was taken by the council," another senior official confirmed. The GST Coun.......

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