https://www.taxtmi.com/circulars?id=67605 Where a registered person in India imports services from a related overseas person and is eligible for full input tax credit, the value declared in the invoice shall be deemed to be the open market value; if no invoice is issued by the foreign affiliate the recipient may deem the value declared as nil and treat that nil value as the open market value. Tax on such import of services is payable by the Indian recipient under the reverse charge mechanism, and the recipient must issue a self-invoice and pay tax accordingly. en-us Sat, 29 Jun 2024 00:00:00 +0530 Tue, 02 Jul 2024 18:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=67605 Where a registered person in India imports services from a related overseas person and is eligible for full input tax credit, the value declared in the invoice shall be deemed to be the open market value; if no invoice is issued by the foreign affiliate the recipient may deem the value declared as nil and treat that nil value as the open market value. Tax on such import of services is payable by the Indian recipient under the reverse charge mechanism, and the recipient must issue a self-invoice and pay tax accordingly. Circulars GST - States Sat, 29 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/circulars?id=67605