Definition amendment expanding 'inputs' to include 'input services' alters tax input treatment for VAT purposes upon enactment. Clause 155 amends section 73 of the Finance Act, 2010 by replacing the term inputs with inputs or input services, broadening the statutory definition ... Summary
Definition amendment expanding 'inputs' to include 'input services' alters tax input treatment for VAT purposes upon enactment.
Clause 155 amends section 73 of the Finance Act, 2010 by replacing the term inputs with inputs or input services, broadening the statutory definition relevant to tax input treatment; the substitution is deemed retrospective from the 8th day of May, 2010 and takes effect upon Presidential assent.
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