Loading...

⚠ ✕
❮ Top
☎ Help
☰
×

By creating an account you can:

Logo TaxTMI
Call Us / Help / Feedback✕

Contact Us At :

✉ E-mail: [email protected]

✆ To Call / Whatsapp, Check Contact Us

FAQs :

To know Frequently Asked Questions, Check FAQs

Most Asked Video Tutorials :

For more tutorials, Check Video Tutorials

Submit Feedback/Suggestion :

Email :
Please provide your email address so we can follow up on your feedback.
Category :
Description :
Min 15 characters 0/2000
Make Most of Text Search ✕
  1. Checkout this video tutorial: How to search effectively on TaxTMI.
  2. Put words in double quotes for exact word search, eg: "income tax"
  3. Avoid noise words such as : 'and, of, the, a'
  4. Sort by Relevance to get the most relevant document.
  5. Press Enter to add multiple terms/multiple phrases, and then click on Search to Search.
  6. Text Search
  7. The system will try to fetch results that contains ALL your words.
  8. Once you add keywords, you'll see a new 'Search In' filter that makes your results even more precise.
  9. Text Search
╳
Add to...
You have not created any category. Kindly create one to bookmark this item!
✕
Create New Category
Hide
Title :
Description :
❮❮ Hide
❮ Default View
Expand ❯❯
Close ✕
🔎 Filters / Advanced Search ❯
TEXT

Press 'Enter' to add multiple search terms. Rules for Better Search

Search In
Main Text + AI Text ❯
  • Main Text
  • Main Text + AI Text
  • AI Text
  • Title Only
Law:
---- All Laws---- ❯
  • ---- All Laws----
  • Income Tax
  • Central GST Laws
  • SGST - State GST Laws
  • Customs
  • FTP - Foreign Trade Policy
  • SEZ - Special Economic Zone
  • FEMA - Foreign Exchange Management
  • Companies Law
  • SEBI - Securities & Exchange Board of India
  • IBC - Insolvency and Bankruptcy
  • LLP - Limited Liability Partnership
  • Trust and Society
  • PMLA - Money-Laundering
  • Indian Laws
  • Service Tax
  • Central Excise
  • DVAT - Delhi Value Added Tax
  • Reserve Bank of India
Year: ?
Publishing Year
---- All Years ---- ❯
  • ---- All Years ----
  • 2026
  • 2025
  • 2024
  • 2023
  • 2022
  • 2021
  • 2020
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
  • 2010
  • 2009
  • 2008
  • 2007
  • 2006
  • 2005
  • 2004
  • 2003
  • 2002
  • 2001
  • 2000
  • 1999
  • 1998
  • 1997
  • 1996
  • 1995
  • 1994
  • 1993
  • 1992
  • 1991
  • 1990
  • 1989
  • 1988
  • 1987
  • 1986
  • 1985
  • 1984
  • 1983
  • 1982
  • 1981
  • 1980
  • 1979
  • 1978
  • 1977
  • 1976
  • 1975
  • 1974
  • 1973
  • 1972
  • 1971
  • 1970
  • 1969
  • 1968
  • 1967
  • 1966
  • 1965
  • 1964
  • 1963
  • 1962
  • 1961
  • 1960
  • 1959
  • 1958
  • 1957
  • 1956
  • 1955
  • 1954
  • 1953
  • 1952
  • 1951
  • 1950
  • 1949
  • 1948
  • 1947
  • 1946
  • 1945
  • 1944
  • 1943
  • 1942
  • 1941
  • 1940
  • 1939
  • 1938
  • 1937
  • 1936
  • 1935
From Date:
To Date:
Sort By: ?
In Sort By 'Default', exact matches for text search are shown at the top, followed by the remaining results in their regular order.
Relevance Default Date
☰   Show Results ❯
    Clarification on various issues pertaining to taxability and valuation of supply of services of providing corporate guarantee between related persons.
    Guidelines for recovery of outstanding dues, in cases wherein first appeal has been disposed of, till Appellate Tribunal comes into operation.
    Clarification on time of supply of services of spectrum usage and other similar services under GST -reg.
    Clarification on time of supply in respect of supply of services of construction of road and maintenance thereof of National Highway Projects of Natio...
    Clarification on place of supply applicable for custodial services provided by banks to Foreign Portfolio Investors-reg.
    Clarification on availability of input tax credit on ducts and manholes used in network of optical fiber cables (OFCs) in terms of section 17(5) of th...
    Clarification regarding taxability of the transaction of providing loan by an overseas affiliate to its Indian affiliate or by a person to a related p...
    Entitlement of ITC by the insurance companies on the expenses incurred for repair of motor vehicles in case of reimbursement mode of insurance claim s...
    Clarification in respect of GST liability and input tax credit (ITC) availability in cases involving Warranty/ Extended Warranty, in furtherance to Ci...
    Clarification on taxability of salvage/ wreck value earmarked in the claim assessment of the damage caused to the motor vehicle -reg.
    Clarification on the requirement of reversal of input tax credit in respect of the portion of the premium for life insurance policies which is not inc...
    Clarification on the taxability of ESOP/ESPP/RSU provided by a company to its employees through its overseas holding company - reg.
    Mechanism for providing evidence of compliance of conditions of Section 15(3)(b)(ii) of the JGST Act, 2017 by the suppliers -reg.
    Clarification on time limit under Section 16(4) of JGST Act, 2017 in respect of RCM supplies received from unregistered persons - reg.
    Clarification on valuation of supply of import of services by a related person where recipient is eligible to full input tax credit - Reg.
    Clarification on the provisions of clause (ca) of Section 10(1) of the Integrated Goods and Service Tax Act, 2017 relating to place of supply of goods...
    Clarifications on various issues pertaining to special procedure for the manufacturers of the specified commodities as per Notification No. 04/2024 - ...
    Minimum information to be provided to the Audit Committee and Shareholders for approval of Related Party Transactions
    Issuance of Look Out Circulars (LOC)
    Changes introduced vide reduction in GST rates w.e.f. 22.09.2025 for Import through Post
❮
❯
❯❯
Maximize Maximize Maximize
0 / 200
Expand Note
Add to Folder

No Folders have been created

+

Are you sure you want to delete "My most important" ?

NOTE:

Circulars
Showing Results for :
Reset Filters
Results Found:
Show All Summaries Hide All Summaries
Clarification on various issues pertaining to taxability and valuation of supply of services of providing corporate guarantee between related persons.
Show AI Summary
Corporate guarantee valuation under GST follows annual guarantee value rules, while full credit and export exceptions alter treatment.
Corporate guarantee services supplied to related recipients remain taxable, with valuation based on the amount guaranteed rather than actual loan disbursement. Rule 28(2) prescribes a value of one per cent per annum of the guaranteed amount or actual consideration, whichever is higher, with proportionate treatment for co-guarantors and shorter guarantee periods. Domestic guarantees operate under forward charge, while guarantees supplied by foreign related entities to Indian recipients are subject to reverse charge. Invoice value is accepted where the recipient has full input tax credit, and the special valuation rule excludes guarantees supplied to recipients outside India.
Guidelines for recovery of outstanding dues, in cases wherein first appeal has been disposed of, till Appellate Tribunal comes into operation.
Show AI Summary
Pre-deposit for tribunal appeals temporarily stays GST recovery when taxpayers undertake to appeal after tribunal operations commence.
Pending operationalisation of the Appellate Tribunal, a taxpayer seeking to challenge a first appellate order may pay the Tribunal-equivalent pre-deposit through the Electronic Liability Register against the selected demand and give the proper officer an undertaking to file the appeal when the Tribunal operates. Satisfaction of both conditions stays recovery of the balance confirmed demand. Failure to pay, furnish the undertaking, or subsequently file the appeal within the applicable period permits recovery under the JGST Act.
Clarification on time of supply of services of spectrum usage and other similar services under GST -reg.
Show AI Summary
GST time of supply for spectrum usage follows payment due dates or actual payments under reverse charge.
Spectrum allocation services supplied for a right to use spectrum are subject to reverse charge in the hands of the telecom operator. Deferred instalment arrangements constitute continuous supply of services where spectrum usage extends beyond three months with periodic payment obligations. The Frequency Assignment Letter is a bid-acceptance and allotment instrument, not a document issued in lieu of an invoice. GST is payable on an upfront amount when payment is made or becomes due, whichever is earlier; for deferred instalments, liability arises separately when each instalment is made or becomes due, whichever is earlier.
Clarification on time of supply in respect of supply of services of construction of road and maintenance thereof of National Highway Projects of National Highways Authority of India (NHAI) in Hybrid Annuity Mode (HAM) model -reg.
Show AI Summary
Continuous supply of services determines GST timing for hybrid annuity highway contracts, including construction, maintenance, and interest components.
A HAM concession arrangement for highway construction and operation and maintenance is treated holistically as a continuous supply of services and cannot be split according to staggered payment terms. For payments due on specified dates or completion of events, time of supply is the earlier of invoice issuance and payment receipt where the invoice is timely issued. If not timely issued, it is the earlier of service provision, treated as the contractual payment due date for continuous supplies, and payment receipt. Interest included in annuity instalments forms part of taxable value.
Clarification on place of supply applicable for custodial services provided by banks to Foreign Portfolio Investors-reg.
Show AI Summary
Custodial services to foreign portfolio investors fall under the default place-of-supply rule, not account-holder services.
Custodial services supplied by banks or financial institutions to Foreign Portfolio Investors are not services supplied to an "account holder" for determining place of supply. Although custodial arrangements involve maintaining accounts of securities held by FPIs, they are distinct from services linked to deposit accounts bearing interest to the depositor. Custodial services must therefore be governed by the default place-of-supply rule under section 13(2) of the Integrated Goods and Services Tax Act, 2017, rather than the special rule for account-holder services under section 13(8)(a).
Clarification on availability of input tax credit on ducts and manholes used in network of optical fiber cables (OFCs) in terms of section 17(5) of the JGST Act, 2017 - reg.
Show AI Summary
Input tax credit for optical-fiber network ducts and manholes remains available because they qualify as plant and machinery.
Input tax credit on ducts and manholes forming part of an optical fiber cable network used to provide telecommunication services is not restricted under the blocked-credit provisions concerning construction of immovable property. Ducts housing optical fiber cables and manholes serving as network nodes are treated as plant and machinery because they facilitate signal transmission and are necessary for laying, upkeep and maintenance of the network. They do not fall within the specified exclusions for land, buildings, civil structures, telecommunication towers or external pipelines.
Clarification regarding taxability of the transaction of providing loan by an overseas affiliate to its Indian affiliate or by a person to a related person- reg.
Show AI Summary
Related-party loan processing remains outside GST where consideration consists solely of exempt interest or discount.
Loans, credit or advances provided between related parties constitute a supply even without consideration, but extending loans is exempt where consideration consists solely of interest or discount. Separate processing fees, administrative charges, service fees or loan-granting charges are taxable consideration for loan-processing, facilitation or administration services. Where related-party lending involves no charge other than interest or discount, no processing or administration service may be deemed merely due to the relationship, and open-market-value valuation does not apply. Additional charges over interest or discount remain taxable.
Entitlement of ITC by the insurance companies on the expenses incurred for repair of motor vehicles in case of reimbursement mode of insurance claim settlement-reg.
Show AI Summary
Input tax credit on reimbursed vehicle repairs remains available to insurers when invoices name them and claims are approved.
Input tax credit on motor vehicle repair services is available to an insurer settling claims through reimbursement where the garage invoice is issued in the insurer's name and the insurer reimburses the approved repair cost. The insurer is treated as the recipient to the extent of its approved payment liability, notwithstanding that the insured initially pays the garage. Where repair costs exceed the approved claim amount, credit is limited to the amount reimbursed by the insurer. Credit is unavailable if the repair invoice is not issued in the insurer's name.
Clarification in respect of GST liability and input tax credit (ITC) availability in cases involving Warranty/ Extended Warranty, in furtherance to Circular No. 195/07/2023-GST dated 28.11.2023-reg.
Show AI Summary
Extended warranty GST classification distinguishes composite goods supplies from independently supplied assurance services and warranty replenishment mechanisms.
Warranty replacement treatment extends to replacement of defective goods as well as parts. Where a distributor replaces goods or parts from its own stock under warranty on behalf of the manufacturer and receives replenishment through a delivery challan without separate consideration, no GST is payable on replenishment and the manufacturer need not reverse input tax credit. Extended warranty is part of a composite supply only when supplied with goods by the same supplier; warranties supplied by another person or after the original supply are separate taxable supplies of services.
Clarification on taxability of salvage/ wreck value earmarked in the claim assessment of the damage caused to the motor vehicle -reg.
Show AI Summary
Salvage ownership determines GST liability when motor insurance claims are settled, distinguishing deductible settlements from full-value claim payments.
Where a policy limits the insurer's liability to the Insured's Declared Value less the salvage or wreck value, deduction of that value from the claim settlement amount leaves ownership of the salvage with the insured. The deduction does not constitute consideration for a supply by the insurer, and no GST liability attaches to the insurer in respect of that salvage value. Where a claim is settled for the full Insured's Declared Value without deducting salvage value, ownership passes to the insurance company, and disposal or sale of the salvage constitutes an outward supply for GST.
Clarification on the requirement of reversal of input tax credit in respect of the portion of the premium for life insurance policies which is not included in taxable value-reg.
Show AI Summary
Input tax credit reversal for life insurance premiums is not required when investment components are excluded from taxable value.
For taxable life insurance policies, premium excluded from taxable value under rule 32(4) as an investment or savings component is not an exempt or non-taxable supply. The exclusion operates as a statutory valuation mechanism and does not change the taxable character of the life insurance service. Consequently, input tax credit reversal under rules 42 and 43, read with section 17(1) and 17(2), is not required in respect of that excluded premium portion.
Clarification on the taxability of ESOP/ESPP/RSU provided by a company to its employees through its overseas holding company - reg.
Show AI Summary
ESOP reimbursements at cost escape GST, while overseas holding-company markups trigger reverse-charge tax on facilitation services.
Reimbursement by an Indian subsidiary to its overseas holding company for ESOP, ESPP or RSU securities transferred directly to employees is not subject to GST when made strictly on a cost-to-cost basis. Securities are neither goods nor services, and employee equity compensation under employment terms is outside supply. However, any fee, markup, commission or other amount charged over the securities' cost is consideration for facilitation or arrangement services, taxable as an import of services under the reverse charge mechanism.
Mechanism for providing evidence of compliance of conditions of Section 15(3)(b)(ii) of the JGST Act, 2017 by the suppliers -reg.
Show AI Summary
Post-supply discount compliance requires evidence of proportionate input tax credit reversal before exclusion from taxable value.
Post-supply discounts made through tax credit notes can be excluded from taxable value only where the discount was agreed at or before supply, linked to relevant invoices, and matched by the recipient's proportionate input tax credit reversal. Pending portal verification, the supplier may obtain a Unique Document Identification Number-bearing certificate from a Chartered Accountant or Cost Accountant. For eligible lower-value discounts, a recipient undertaking or certificate may be used. These records are admissible evidence and must be produced when required in scrutiny, audit, investigation, or similar proceedings.
Clarification on time limit under Section 16(4) of JGST Act, 2017 in respect of RCM supplies received from unregistered persons - reg.
Show AI Summary
Input tax credit timing for reverse-charge supplies from unregistered suppliers follows the year the recipient issues its invoice.
Input tax credit for reverse-charge supplies from unregistered suppliers is linked to the financial year in which the registered recipient issues the required self-invoice. The recipient must issue the invoice and pay reverse-charge tax in cash. Credit is subject to tax payment and applicable input tax credit conditions, and must be taken by the statutory deadline calculated from the financial year of invoice issuance. Delayed invoice issuance and tax payment may attract interest and penal action.
Clarification on valuation of supply of import of services by a related person where recipient is eligible to full input tax credit - Reg.
Show AI Summary
Full input tax credit and related-party service imports permit nil deemed valuation where no invoice is issued.
Where a registered person in India imports services from a related foreign person and is eligible for full input tax credit, the value declared in the invoice is deemed to be the open market value under rule 28(1). This treatment applies to related persons as well as distinct persons. Tax remains payable by the Indian recipient under reverse charge, with a self-invoice required. If no invoice is issued for particular imported services and full input tax credit is available, the value may be treated as nil and deemed to be the open market value.
Clarification on the provisions of clause (ca) of Section 10(1) of the Integrated Goods and Service Tax Act, 2017 relating to place of supply of goods to unregistered persons- Reg.
Show AI Summary
Place of supply for unregistered recipients follows the delivery address recorded on the invoice when billing and delivery addresses differ.
For goods supplied to an unregistered recipient, the place of supply is the recipient's address recorded on the invoice, or the supplier's location if no recipient address is recorded. Recording the recipient's State name is deemed to be recording an address. Where the billing and delivery addresses differ, including through e-commerce platforms, the delivery address recorded on the invoice determines the place of supply. The supplier may record that delivery address as the unregistered recipient's address for this purpose.
Clarifications on various issues pertaining to special procedure for the manufacturers of the specified commodities as per Notification No. 04/2024 - State Tax dated 21.03.2024- reg.
Show AI Summary
Special procedure compliance for specified-commodity manufacturers clarifies machine disclosures, certification, exclusions, and responsibility in job-work arrangements.
Special procedure compliance requires manufacturers to disclose prescribed packing-machine details in FORM GST SRM-I. Make and model details are optional, but machine number is mandatory and may be numerically assigned if unavailable. Electricity consumption rating must be based on available records or certified by a qualified practicing Chartered Engineer, with the certificate uploaded with the form. The procedure excludes Special Economic Zone units and manual packing operations. For multiple machines, details of the final packing machine are required. Job workers and contract manufacturers must comply, while the principal manufacturer is responsible where they are unregistered.
Minimum information to be provided to the Audit Committee and Shareholders for approval of Related Party Transactions
Show AI Summary
Related Party Transactions: new tiered disclosure rules impose Annexure-13A disclosures below specified turnover and monetary thresholds.
Listed entities must supply audit committees and shareholders the Industry Standards' specified information for RPT approvals; however, transactions not exceeding the lower of 1% of annual consolidated turnover or Rs. Ten Crore shall provide the streamlined disclosures in Annexure-13A, and transactions not exceeding Rs. One Crore (individually or aggregated in a financial year) are exempt from these requirements. Annexure-13A lists required details including transaction terms, related party identity, tenure, value, turnover percentages, funding/indebtedness particulars for loans, justification of interest, and any valuation reports.
Issuance of Look Out Circulars (LOC)
Show AI Summary
Look Out Circulars (LOC) now processed through an online portal; designated nodal offices manage access and implementation.
Look Out Circulars (LOC) are to be processed exclusively through an Online LOC Portal effective 1 March 2024; prior routing by letters or emails is discontinued. Designation-based login credentials for nodal officers will be created by specified central offices, which are responsible for user creation, coordination, procedural guidance, and overall implementation for their respective field formations. Field formations must coordinate with their designated office for access and report portal difficulties to the Board via the nodal offices.
Changes introduced vide reduction in GST rates w.e.f. 22.09.2025 for Import through Post
Show AI Summary
Postal import GST reduction applies lower IGST to eligible personal-use consignments, alongside revised duty calculations and clearance documentation requirements.
Postal imports for personal use under CTH 9804, where not prohibited, are subject to reduced 18% GST from 22 September 2025. Personal imports involving a monetary transaction attract 10% basic customs duty, social welfare surcharge on that duty, and 18% IGST; gift imports attract 20% basic customs duty, the surcharge, and 18% IGST. IGST is calculated on CIF value plus basic customs duty and social welfare surcharge. Import clearance requires prescribed KYC and supporting documents, while export clearance requires commodity-specific documentation.

Circulars

Back

All Circulars

Showing Results for :
Reset Filters
No Records Found

Circulars

Procedure for allowing “Back to Town” (BTT) of Export Cargo where EGM has not been filed in view of ongoing war conditions in the Middle East region

Contents
Acts
Summary
Note

Note

-

Bookmark

Print

Print

Back-to-town export cargo procedures waive examination for intact seals and specified fees and penalties where export manifests remain unfiled.
The exporter or an authorised Customs Broker must approach the concerned Assistant or Deputy Commissioner of Customs (Export) after the containers are ... Summary

Topics

Acts Income Tax