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of <h1>India Amends Tax Rules: DSAs to Banks/NBFCs Taxed Under Reverse Charge; Clarifies Renting Property Definition.</h1> Notification No. 16/2018, issued by the Government of India on July 26, 2018, amends Notification No. 10/2017- Integrated Tax (Rate) to include services provided by individual Direct Selling Agents (DSAs) to banks or non-banking financial companies (NBFCs) under the Reverse Charge Mechanism (RCM). This amendment specifies that such services, when supplied by DSAs who are not structured as body corporates, partnerships, or limited liability partnerships, will be taxed under RCM. Additionally, the notification clarifies the definition of 'renting of immovable property.' The changes take effect from July 27, 2018.
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