The Central Board of Indirect Taxes and Customs (CBIC) issued Circular No. 210/04/2024-GST to clarify the valuation of supply of import of services by a related person where the recipient is eligible for full input tax credit (ITC). This circular addresses concerns raised by businesses regarding demands for tax on reverse charge basis for certain activities undertaken by related persons ...
The Central Board of Indirect Taxes and Customs (CBIC) recently issued Circular No. 218/12/2024-GST, which addresses the taxability of loan transactions between related parties. This clarification is crucial for businesses involved in cross-border financial dealings, as well as for those engaging in loans within their corporate groups. Let’s delve into the key points of this circular to understand its implications. ...