GCTL8.com (FocusAsia Media Ltd)

NEW DELHI, Feb 2 (FAM) – India has implemented a 4.5% service tax on import shipments of prepaid freight under the Notification No. 1/2017-Service Tax issued recently by the Ministry of Finance.

The new tax is composed of the 4.2% service tax along with the Swachh Bharat (Clean India) Cess and Krishi Kalyan (Farm Welfare) Cess at 0.15% each.