Transfer pricing method selection favours TNMM where medical-equipment distribution involves substantial post-import value addition and operational ri...
Post-export shipping bill conversion remains available where contemporaneous evidence supports EPCG benefits despite curable procedural omissions and ...
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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