Fair market value under section 50C must reflect existing property condition, not hypothetical development, and statutory valuation steps must be foll...
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The CBIC clarified that for online services supplied by suppliers or through e-commerce operators to unregistered recipients, irrespective of the supply value, the tax invoice must mandatorily mention the recipient's state name. This state name shall be deemed the recipient's address on record for determining the place of supply u/s 12(2)(b)(i) of IGST Act as the recipient's location. Suppliers must devise mechanisms to collect state details from unregistered recipients before supply. Non-compliance may attract penal action u/s 122(3)(e) of CGST Act.
The CBIC clarified that for online services supplied by suppliers or through e-commerce operators to unregistered recipients, irrespective of the supply value, the tax invoice must mandatorily mention the recipient's state name. This state name shall be deemed the recipient's address on record for determining the place of supply u/s 12(2)(b)(i) of IGST Act as the recipient's location. Suppliers must devise mechanisms to collect state details from unregistered recipients before supply. Non-compliance may attract penal action u/s 122(3)(e) of CGST Act.
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