Among the key proposals is a retrospective amendment to the blocked credit provisions, which now replaces the term "plant or machinery" with "plant and machinery" in line with the Supreme Court's ruling in the Safari Retreats case.
"This distinction clarifies the eligibility for Input Tax Credit (ITC) based on the usage of the two terms. Furthermore, the amendment to the Input Service Distributor (ISD) provisions will incorporate inter-state reverse charge mechanism (RCM) transactions, providing much-needed clarity within the ISD framework," said Krishan Arora, Partner, Grant Thornton Bharat.
هذه القصة مأخوذة من طبعة December 23, 2024 من The Statesman Siliguri.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة December 23, 2024 من The Statesman Siliguri.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
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