CBIC
Supply Of Advertising Services Not “Intermediary” Services Under IGST Act, Clarifies CBIC
Circular No. 230/24/2024-GST
Date: 10/09/2024
The Central Board of Indirect Taxes and Customs (CBIC) has clarified that the supply of advertising services is not “intermediary” services under Integrated Goods and Service Tax Act (IGST).
CGST Act | Target Audience Of Advertisement In India Can’t Be Considered As ‘recipient’: CBIC
Circular No. 230/24/2024-GST
Date: 10/09/2024
The Central Board of Indirect Taxes and Customs (CBIC) has clarified that the recipient of the advertising services provided by the advertising company in such cases is the foreign client and not the Indian representative of the foreign client based in India or the target audience of the advertisements, as per section 2(93) of the CGST Act, 2017.
IGST | Advertising Services Provided By Advertising Companies To Foreign Clients Not Performance-Based Services: CBIC
Circular No. 230/24/2024-GST
Date: 10/09/2024
The Central Board of Indirect Taxes and Customs (CBIC) has clarified that the advertising services provided by the advertising companies to foreign clients cannot be considered as performance-based services as per section 13(3)of the IGST Act.
CBIC Issues Clarification On GST ITC Availability On Demo Vehicles
Circular No. 231/25/2024-GST
Date: 10/09/2024
The Central Board of Indirect Taxes and Customs (CBIC) has issued clarification on availability of input tax credit in respect of demo vehicles.
CBIC Clarifies On Place Of Supply Of Data Hosting Services Provided To Cloud Computing Service Providers Located Outside India
Circular No. 232/26/2024-GST
Date: 10/09/2024
The Central Board of Indirect Taxes and Customs (CBIC) has issued clarification on place of supply of data hosting services provided to cloud computing service providers located outside India.
Compensation Cess | CBIC Issues Clarification On Regularization Of Igst Refund Availed In Contravention Cgst Rules 2017
Circular No. 233/27/2024-GST
Date: 10/09/2024
The Central Board of Indirect Taxes and Customs (CBIC) has issued clarification on regularisation of refund of IGST availed in contravention of Rule 96(10) of CGST Rules, 2017, in cases where the exporters had imported certain inputs without payment of integrated taxes and compensation cess.
Only Authorised Courier/Agent Passing Exam Can Make Entry Of Goods For Export In Electronic Integrated Declaration: CBIC
Notification No. 60/2024-Customs (N.T.)
Date: 12/09/2024
The Central Board of Indirect Taxes and Customs (CBIC) has mandated that only authorised courier/agent passing exams can make entry of goods for export in electronic integrated declaration.
CBIC Extends Export Benefits For Exports Made Through Courier Mode
Circular: 15/2024
Date: 12/09/2024
The Central Board of Indirect Taxes and Customs (CBIC) has issued a circular extending the export related benefits for exports made through courier mode.
CBIC Amends Customs Duty Rates On Cardamom, Crude Palm Oil, Etc: Know In Detail
Notification No. 43/2024-Customs
Date: 13/09/2024
The Central Board of Indirect Taxes and Customs has amended the customs duty rates on cardamom, crude palm oil, etc.
54th GST Council Meet
54th GST Council Meet: Key Takeaways
The Union Finance Minister, Nirmala Sitharaman, headed 54th GST Council Meet. It is the GST Council’s first meeting after the Union Budget 2024-25.
54th GST Council Meet: GST Reduced On Namkeens From 18% To 12%
The 54th GST Council met under the Chairpersonship of Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman in New Delhi. The GST rate of extruded or expanded products, savoury or salted (other than un-fried or uncooked snack pellets, by whatever name called, manufactured through process of extrusion), falling under HS 1905 90 30 to be reduced from 18% to 12% at par with namkeens, bhujia, mixture, chabena (pre-packaged and labelled) and similar edible preparations in ready for consumption form which are classifiable under HS 2106 90. The GST rate of 5% will continue on un-fried or uncooked snack pellets, by whatever name called, manufactured through the process of extrusion.
54th GST Council Meet: GST Reduction On Cancer Drugs
The GST rate on cancer drugs namely, Trastuzumab Deruxtecan, Osimertinib and Durvalumab to be reduced from 12% to 5%.
54th GST Council Meet: Introduction RCM On Metal Scrap Supply
Reverse Charge Mechanism (RCM) to be introduced on supply of metal scrap by unregistered person to registered person provided that the supplier shall take registration as and when it crosses threshold limit and the recipient who is liable to pay under RCM shall pay tax even if supplier is under threshold.
54th GST Council Meet: 28% GST On RMPU Air Conditioning Machines For Railways
The council clarified that the Roof Mounted Package Unit (RMPU) Air Conditioning Machines for Railways would be classified under HSN 8415 attracting a GST rate of 28%.
54th GST Council Meet: GST On Life And Health Insurance
GST Council recommended to constitute a Group of Ministers (GoM) to holistically look into the issues pertaining to GST on life insurance and health insurance. The GoM members are Bihar, UP, West Bengal, Karnataka, Kerala, Rajasthan, Andhra Pradesh, Meghalaya, Goa, Telangana, Tamil Nadu, Punjab, and Gujarat.
54th GST Council Meet: Decisions Related To GST Applicability On Major Services
The 54th GST Council met under the Chairpersonship of Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman in New Delhi. The meeting was also attended by Union Minister of State for Finance Shri Pankaj Chaudhary, Chief Ministers of Goa and Meghalaya; Deputy Chief Ministers of Arunachal Pradesh, Bihar, Madhya Pradesh, and Telangana; besides Finance Ministers of States & UTs (with legislature) and senior officers of the Ministry of Finance & States/ UTs.
54th GST Council Meet: Facilitation Of Trade Measures
The GST Council recommended insertion of rule 164 in CGST Rules, 2017, along with certain Forms, providing for the procedure and conditions for availment of benefit of waiver of interest or penalty or both, relating to tax demands under section 73 of CGST Act, pertaining to FYs 2017-18, 2018-19 and 2019-20, as per section 128A of CGST Act.
