Reverse Charge Mechanism applied to Priority Sector Lending Certificates, making registered recipients liable to account for tax on such supplies. The notification amends the State Tax (Rate) schedule to notify Priority Sector Lending Certificates under the reverse charge mechanism, inserting an entry that covers such certificates under any chapter and designates both supplier and recipient as any registered person, thereby making the recipient liable to account for tax on these supplies.
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Provisions expressly mentioned in the judgment/order text.
Reverse Charge Mechanism applied to Priority Sector Lending Certificates, making registered recipients liable to account for tax on such supplies.
The notification amends the State Tax (Rate) schedule to notify Priority Sector Lending Certificates under the reverse charge mechanism, inserting an entry that covers such certificates under any chapter and designates both supplier and recipient as any registered person, thereby making the recipient liable to account for tax on these supplies.
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