Interactive touchscreen panels with integrated computing functions fall under automatic data-processing machines rather than display monitors for cust...
Ex parte injunction service requirements were substantially met, while civil recovery and SFIO investigation into provident fund defalcation continued...
Enforcement of resolution-plan directions continues without a Supreme Court stay, preventing suspension of redistribution and escrowed-fund distributi...
Third-party ownership claims over attached property require Special Court adjudication where purchasers lack registered sale deeds and bona fides rema...
Pure-agent reimbursements in clearing and forwarding services are excluded from taxable value when qualifying third-party payments are properly record...
Customs relief for Strait of Hormuz maritime disruptions remains available, with existing conditions continuing unchanged through the extended validit...
The circular clarifies the time of supply for GST payment on spectrum allocation services when telecom operators opt for deferred payments. The bidder is liable to pay GST on spectrum usage services received on reverse charge basis. If payments are made in installments, it constitutes continuous supply of services, with tax liability arising when payments are due or made. Frequency Assignment Letter is not considered an invoice for GST purposes. Invoice must be issued before the due date of payment. Full upfront payment triggers GST liability at payment or due date, while deferred payments trigger GST liability at each installment's due or payment date. Similar treatment applies to other cases of government allocating natural resources for continuous service over time. Trade notices should publicize the circular, and any implementation difficulties should be reported to the Board.
The circular clarifies the time of supply for GST payment on spectrum allocation services when telecom operators opt for deferred payments. The bidder is liable to pay GST on spectrum usage services received on reverse charge basis. If payments are made in installments, it constitutes continuous supply of services, with tax liability arising when payments are due or made. Frequency Assignment Letter is not considered an invoice for GST purposes. Invoice must be issued before the due date of payment. Full upfront payment triggers GST liability at payment or due date, while deferred payments trigger GST liability at each installment's due or payment date. Similar treatment applies to other cases of government allocating natural resources for continuous service over time. Trade notices should publicize the circular, and any implementation difficulties should be reported to the Board.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4803
Join Channel
TaxTMI 
