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The latest circular no. 210-GST dated 26.06.2024 provides for acceptance of the value adopted by the recipient in case of services received from foreign affiliates. If no value is adopted, the value is deemed as NIL.
CBIC issued a Circular No. 211/5/2024-GST dated 26.06.2024 to provide Clarification on time limit under Section 16(4) of CGST Act, 2017 in respect of RCM supplies received from unregistered persons
The CESTAT, Chandigarh in the case of M/s. Maruti Suzuki India Ltd. partly allowed the appeal filed by setting aside the penalty and confirming the demand of tax, thereby holding that, Service Tax is payable under reverse charge when reimbursable expense incurred by distributor on providing service on behalf of the taxable person for business purpose under Business Auxiliary Services.
The Hon’ble Karnataka High Court in the case of Prashanth Sreedhar Shenoi allowed the writ petition and held that, the services of legal professionals consisting of partnership firm of Advocates or an individual Advocate other than a Senior Advocate is exempt from levy of service tax to an advocate or partnership firm of advocates providing legal services to any person other than a business entity or a business entity with a turnover upto ten lakh rupees in the preceding financial year.
An analysis on Reverse Charge Mechanism (RCM) with practical examples.
The GST department has issued notices to hundreds of builders asking them to reverse their input tax credit (ITC). The…