Invoice value governs valuation of imported related-party services where recipient is eligible for full input tax credit. Where a registered person in India imports services from a related person outside India and the recipient is eligible for full input tax credit, the value declared in the recipient's invoice shall be deemed to be the open market value of those services; if no invoice value is declared, the recipient may deem the value as nil and that deemed value may be treated as the open market value. Tax on such imports is payable by the recipient under reverse charge and the recipient must issue a self-invoice.
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.
Invoice value governs valuation of imported related-party services where recipient is eligible for full input tax credit.
Where a registered person in India imports services from a related person outside India and the recipient is eligible for full input tax credit, the value declared in the recipient's invoice shall be deemed to be the open market value of those services; if no invoice value is declared, the recipient may deem the value as nil and that deemed value may be treated as the open market value. Tax on such imports is payable by the recipient under reverse charge and the recipient must issue a self-invoice.
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