No IGST on Ocean Freight Services under RCM: Madras High Court directs Refund

The Madras High Court directed a refund of Integrated Goods and Services Tax (IGST) paid on ocean freight services under the reverse charge mechanism (RCM). The court ruled that no IGST is applicable on ocean freight services in cases where the importer has already paid GST on the composite supply, including the freight component. This decision follows a series of legal disputes regarding the applicability of IGST on such services, and the court's ruling brings clarity to the issue. The judgment is significant for businesses engaged in imports, as it prevents double taxation on the same transaction, ensuring fair tax practices.