Statutory updates

Place of Supply for Goods Supplied to Unregistered Persons

The Central Board of Indirect Taxes and Customs clarifies the place of supply for goods provided to unregistered persons under clause (ca) of Section 10(1) of the Integrated Goods…

Valuation of Import of Services by Related Person with Full ITC

This circular clarifies the valuation of imported services supplied by a related person located outside India when the recipient in India is eligible for full input tax credit.

211/05/2024-GST : Clarification on time limit under Section 16(4) of CGST Act, 2017 in respect of RCM supplies received from unregistered persons.

Mechanism for Evidence of Compliance under Section 15(3)(b)(ii) of CGST Act

Suppliers offering post-supply discounts through tax credit notes must procure a certificate from a Chartered Accountant or Cost Accountant.

Taxability of ESOP, ESPP, and RSU Reimbursements Under GST

This circular clarifies the goods and services tax liability on employee stock option plans, employee stock purchase plans, and restricted stock units provided by foreign holding…

214/08/2024-GST : Clarification on the requirement of reversal of input tax credit in respect of the portion of the premium for life insurance policies which is not included in taxable value

Clarification on Taxability of Wreck and Salvage Values in Motor Insurance Claims

Insurance companies do not pay goods and services tax on salvage values when they deduct salvage values from motor insurance claim settlements because the salvage remains the…

Clarification on GST Liability and Input Tax Credit for Warranty and Extended Warranty

This circular clarifies Goods and Services Tax liability and input tax credit availability for warranty replacements and extended warranties.

ITC on Motor Vehicle Repairs in Insurance Reimbursement Claims

General insurance companies can claim input tax credit on motor vehicle repair expenses under the reimbursement mode of claim settlement.

Taxability of Loans Provided Between Related Persons

This circular clarifies the taxability of loans provided by an overseas affiliate to its Indian affiliate or by a person to a related person under goods and services tax.

Clarification on Input Tax Credit for Optical Fiber Ducts and Manholes

Input tax credit is available on ducts and manholes used in the network of optical fiber cables for telecommunication services.

Place of Supply for Custodial Services Provided by Banks to FPIs

Custodial services provided by banks or financial institutions to Foreign Portfolio Investors do not qualify as services provided to an account holder under Section 13(8)(a) of…

Time of Supply for Annuity Payments under HAM Projects

This circular clarifies the time of supply for road construction and maintenance services under Hybrid Annuity Mode contracts for National Highways Authority of India projects.

Time of Supply for Spectrum and Natural Resource Allocation Services

This circular clarifies the time of supply for GST on spectrum allocation and similar natural resource services when telecom operators choose deferred instalment payments.

Addition of area of operation of PSIAs in terms of Para 2.52 (c) of HBP 2023 in Appendix-2G

ADIF vs Alphabet Inc. and Others Billing Policy Investigation

The Competition Commission of India clubs an information filed by the Alliance of Digital India Foundation against Alphabet Inc. and other Google entities regarding billing policy…

Amendment in Para 2.57 and 2.58 of the Handbook of Procedures - reg.

Notice dated 26th June, 2024 for Seeking public comments on Manuals recommended by Scientific Panel on Methods of Sampling & Analysis