THE government is considering amendments in the GST circular 210, which clarifies on valuation of supply of services import by a related party where recipient is eligible to full input tax credit, to make it simpler for its correct interpretation by tax officers, according to a senior finance ministry official.
This is in context of the recent show cause notices sent to Infosys, foreign shipping lines and several food and beverage companies engaged in relatedparty transactions by the Directorate General of Goods and Services Tax Intelligence (DGGI). The circular was issued in June.
This story is from the September 25, 2024 edition of The New Indian Express.
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This story is from the September 25, 2024 edition of The New Indian Express.
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