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of <h1>Jammu & Kashmir clarifies del-credere agents' role under JKGST Act, 2017; impacts invoicing and interest on loans.</h1> The circular from the Jammu and Kashmir State Taxes Department addresses the scope of the principal-agent relationship under the JKGST Act, 2017, specifically concerning del-credere agents (DCA). It clarifies that a DCA, who guarantees payment to the supplier, may or may not fall under the agent category depending on whether they issue invoices in their own name. If a DCA provides short-term loans to buyers, the interest charged is not included in the value of goods supplied unless the DCA acts as an agent. In such cases, the interest is included in the value of the goods supplied.
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