Charitable registration turns on predominant purpose and genuine activities, while incidental fees and related-party rent require supporting adverse m...
MAT book-profit adjustments exclude disallowances for exempt-income expenditure and demerger expenditure unless expressly listed under the statutory c...
Omitted specified domestic transaction provision invalidates related-party expenditure transfer-pricing references and assessments based on consequent...
CBIC clarified mandatory GST registration requirements for commission agents under Section 24(vii) of CGST Act. Commission agents must register only when serving taxable principals and making taxable supplies. Agents representing agriculturists are exempt from mandatory registration since agriculturists supplying cultivation produce are not taxable persons under Section 23(1)(b). However, commission agents liable under reverse charge mechanism must mandatorily register per Section 24(iii). This corrigendum modifies Circular 57/31/2018-GST to clarify the dual conditions for mandatory registration and specific exemption for agents of agriculturists.
CBIC clarified mandatory GST registration requirements for commission agents under Section 24(vii) of CGST Act. Commission agents must register only when serving taxable principals and making taxable supplies. Agents representing agriculturists are exempt from mandatory registration since agriculturists supplying cultivation produce are not taxable persons under Section 23(1)(b). However, commission agents liable under reverse charge mechanism must mandatorily register per Section 24(iii). This corrigendum modifies Circular 57/31/2018-GST to clarify the dual conditions for mandatory registration and specific exemption for agents of agriculturists.
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