Input tax credit restriction on same-line business services tightened under Assam SGST rate notification and service classifications revised. Assam SGST rate notification inserts a restriction on input tax credit for same-line-of-business input services where tax is charged above 2.5%, limiting credit to the amount attributable at 2.5%. It also revises service classification entries by substituting licensing language, omitting one item, and deleting two Annexure entries. The amendments were issued under the Assam Goods and Services Tax Act, 2017 and given retrospective effect from 20 October 2023.
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Input tax credit restriction on same-line business services tightened under Assam SGST rate notification and service classifications revised.
Assam SGST rate notification inserts a restriction on input tax credit for same-line-of-business input services where tax is charged above 2.5%, limiting credit to the amount attributable at 2.5%. It also revises service classification entries by substituting licensing language, omitting one item, and deleting two Annexure entries. The amendments were issued under the Assam Goods and Services Tax Act, 2017 and given retrospective effect from 20 October 2023.
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