New Tax On Indian Exports
A surprise new ruling from Indian authorities means that all export shipments to the country will incur their service tax with immediate effect for Ocean Freight shipments to India.
The service tax itself is not new, but had previously been collected from importers only. The new ruling states that the tax will now be collected on all shipments, meaning that exporters who pay the freight and ancillary charges to India will now be taxed at a rate of 4.5% of the freight and origin fees. For exporters who pay for shipments through to door there is a further 15% of any Indian charges incurred on the movement.
Responsibility for collecting this tax has been passed to the carriers, so exporters could immediately see an uplift in their direct costs to India. Uniserve understand that arrangements may be made with some carriers to collect this tax in India from the importer, but only when a mutual agreement between exporter and importer exists.
For more information on the subject, or to enquire about our award winning Indian ocean and airfreight services, then please contact us on 01708 259400 / info@ugroup.co.uk or contact your local Uniserve representative.
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