https://www.taxtmi.com/article/detailed?id=12356 The Finance Act, 2024 substitutes the ISD definition and Section 20 to require any office receiving common input services for or on behalf of distinct persons to register as an ISD and distribute input tax credit, explicitly including invoices for services under the reverse charge mechanism. Distribution must follow prescribed manner, timing and conditions; distributed credit cannot exceed available credit and must be attributable to recipients. The amendment makes distribution mandatory, extends ISD treatment to reverse-charge services, and anticipates rule changes for allocation and compliance. en-us Sat, 24 Feb 2024 09:40:26 +0530 Sat, 24 Feb 2024 09:40:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=12356 The Finance Act, 2024 substitutes the ISD definition and Section 20 to require any office receiving common input services for or on behalf of distinct persons to register as an ISD and distribute input tax credit, explicitly including invoices for services under the reverse charge mechanism. Distribution must follow prescribed manner, timing and conditions; distributed credit cannot exceed available credit and must be attributable to recipients. The amendment makes distribution mandatory, extends ISD treatment to reverse-charge services, and anticipates rule changes for allocation and compliance. Articles Goods and Services Tax - GST Sat, 24 Feb 2024 09:40:26 +0530 https://www.taxtmi.com/article/detailed?id=12356