https://www.taxtmi.com/article/detailed?id=12784 Invoice value declared by a supplier of import of services between related persons shall be deemed the open market value under the second proviso to rule 28(1) of the CGST Rules when the recipient is eligible for full ITC; absent an invoice from HO or related domestic entity the value may be treated as nil and thus deemed open market value. For RCM supplies from unregistered persons, the financial year for ITC under Section 16(4) is the year the recipient issues the invoice, subject to tax payment and other conditions. Where credit notes are issued post-supply, recipient-issued certificates or undertakings evidencing reversal of ITC (including CA/CMA certificates with UDIN where applicable) are acceptable until portal functionality is available. en-us Fri, 12 Jul 2024 14:03:08 +0530 Fri, 12 Jul 2024 14:03:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=12784 Invoice value declared by a supplier of import of services between related persons shall be deemed the open market value under the second proviso to rule 28(1) of the CGST Rules when the recipient is eligible for full ITC; absent an invoice from HO or related domestic entity the value may be treated as nil and thus deemed open market value. For RCM supplies from unregistered persons, the financial year for ITC under Section 16(4) is the year the recipient issues the invoice, subject to tax payment and other conditions. Where credit notes are issued post-supply, recipient-issued certificates or undertakings evidencing reversal of ITC (including CA/CMA certificates with UDIN where applicable) are acceptable until portal functionality is available. Articles Goods and Services Tax - GST Fri, 12 Jul 2024 14:03:08 +0530 https://www.taxtmi.com/article/detailed?id=12784