Agent status determines tax treatment of credit: interest included in taxable value when agent issues the invoice. Agent status depends on invoicing: if the supplier issues the invoice, the del credre agent is not an agent and the short term loan provided by the DCA is an independent supply; interest charged by the DCA is not included in the supplier's goods value. If the DCA issues the invoice and acts as agent, the credit extended is subsumed into the supply of goods by the DCA and interest charged must be included in the transaction value of those goods under GST valuation rules.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Agent status determines tax treatment of credit: interest included in taxable value when agent issues the invoice.
Agent status depends on invoicing: if the supplier issues the invoice, the del credre agent is not an agent and the short term loan provided by the DCA is an independent supply; interest charged by the DCA is not included in the supplier's goods value. If the DCA issues the invoice and acts as agent, the credit extended is subsumed into the supply of goods by the DCA and interest charged must be included in the transaction value of those goods under GST valuation rules.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
