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of <h1>CBIC Clarifies Principal-Agent Relationship Under CGST Act, Highlights Invoice Issuance and Registration for Agents in Schedule I.</h1> The circular issued by the Central Board of Indirect Taxes & Customs clarifies the scope of the principal-agent relationship under the CGST Act, particularly concerning Schedule I. It explains that an agent, as defined by the CGST Act, must supply or receive goods on behalf of the principal. The circular details scenarios to illustrate when an agent is considered to be acting on behalf of the principal, thus falling under Schedule I. It highlights that the issuance of invoices by the agent in their own name is crucial in determining this relationship. Additionally, it addresses registration requirements and exemptions for agents, especially in the context of agricultural produce.
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