Is GST applicable on clearing and forwarding charges?

In case of foreign commission agents providing service to Indian Principal, the place of supply of service is outside India. Hence, no IGST is payable even under reverse charge….Clearing and forwarding service under GST.

Particulars	When he act as an agent
When agent is resident and recipient is non resident	The POS shall be in India and liable for GST.

What is clearing and forwarding agent?

“Clearing and Forwarding Agent” means any person who is engaged in providing any service, either directly or indirectly, connected with the clearing and forwarding operations in any manner to any other person and includes a consignment agent; (Section 65(25) of the Finance Act, 1994)

What is Sac and HSN code?

HSN Stands for Harmonized System Nomenclature and SAC stands for Service Accounting Code. Goods are classified under HSN and Services under SAC. The HSN Code under GST and SAC code are used in almost 200 countries as a basis for their customs tariffs.

Is TDS applicable on clearing & forwarding charges?

The activities carried out by Clearing and Forwarding Agent (C&F Agent) form one Composite “Work”, and Any Payments to such agents will attract deduction of tax at source only under section 194C of the Act.

What are clearing agents?

Meaning of clearing agent in English a person or company that is used for getting goods officially from one country to another: Our clearing agents will deal with all the documentation related to your international freight transport.

How do you tell the difference between a Sac and HSN code?

The basic difference between the HSN and SAC code is that HSN is used to identify the Goods and SAC codes are used to identify the services. Another contrast between the two is the number of digits present in the code, for instance, HSN number has 8 Digit codes while SAC number has 6 digit codes.