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Sunday, April 22, 2018

PORT COSTS

India – service tax on port services

The proposition in India’s Finance Bill 2001 to impose a service tax on port services has been approved by Parliament and will be put into effect from 1 July 2001.  From that date all invoices raised by the port will include service tax at 5% of the invoice value.  The amount deducted will be paid to the Central Government.

Source: GAC