https://www.taxtmi.com/circulars?id=67643 Where an Indian registered person imports services from a related person abroad and the Indian recipient is eligible for full input tax credit, the value declared in the recipient's invoice is deemed the open market value under the second proviso to Rule 28(1) of the CGST Rules. Such imports attract tax under reverse charge and require the recipient to issue a self-invoice. If no invoice is issued by the recipient for services from the foreign affiliate, the recipient's declaration of Nil value may be treated as the open market value under the proviso. en-us Thu, 04 Jul 2024 00:00:00 +0530 Wed, 10 Jul 2024 17:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=67643 Where an Indian registered person imports services from a related person abroad and the Indian recipient is eligible for full input tax credit, the value declared in the recipient's invoice is deemed the open market value under the second proviso to Rule 28(1) of the CGST Rules. Such imports attract tax under reverse charge and require the recipient to issue a self-invoice. If no invoice is issued by the recipient for services from the foreign affiliate, the recipient's declaration of Nil value may be treated as the open market value under the proviso. Circulars GST - States Thu, 04 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/circulars?id=67643