Summary of Taxability of Loans from Overseas or Related Affiliates Clarification has been issued for whether there is any supply involved in the transaction of granting of loan by a person to a related person or by an overseas affiliate to its Indian entity, where the consideration being paid is only by way of interest … Read more
Summary of Clarification on Place of Supply for Custodial service Clarification on Place of Supply for Custodial service offered by Banks to Foreign Portfolio Investors (FPIs).Custodial service means services where banks manage and safeguard financial assets on behalf of FPIs.As per section 13(8) (a) of IGST Act, certain services like banking, financial and intermediary services, … Read more
Summary of Place of Supply in case of goods sold to unregistered person The government has clarified the Place of Supply in case of goods sold to unregistered person by Circular No 209/3/2024 dated 26-06-2024. The new rule clause (ca) has been added to the IGST Act. This rule states that when goods are sold … Read more
Summary of Clarification on Issues related to special procedure for the manufacturers of the specified commodities as per Notification No. 04/2024 Circular No 208/2/2024 states the issues related to special procedure for the manufacturers of the specified commodities as per Notification No. 04/2024-Central Tax dated 05-01-2024. The Government issued the Notification No 30/2023-Central Tax to … Read more
Summary of Time of Supply for Construction and Maintainance of NHAI Projects in HAM Model Clarification has been issued for Time of Supply for constuction and Maintainance of NHAI Projects in HAM Model.The Government has received queries for when to apply GST on Road construction and Maintainance Project under HAM model. In this model some … Read more