https://www.taxtmi.com/article/detailed?id=12937 Circular No. 230 states that Indian advertising companies contracting and procuring media space on a principal to principal basis for foreign clients are not intermediaries; the foreign client is the recipient, the services are not performance based for place of supply purposes in the cited provisions, and contractual structure governs cross border tax character. Circular No. 231 clarifies that authorised dealers' demo vehicles used to promote sale of similar passenger vehicles qualify for ITC (not blocked) where the dealer purchases and sells on its own account; if the dealer is merely an agent, ITC is not available. Capitalisation does not bar ITC except where depreciation on the tax component has been claimed, and applicable GST reversal rules apply on subsequent sale. en-us Wed, 18 Sep 2024 07:55:52 +0530 Wed, 18 Sep 2024 07:55:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=12937 Circular No. 230 states that Indian advertising companies contracting and procuring media space on a principal to principal basis for foreign clients are not intermediaries; the foreign client is the recipient, the services are not performance based for place of supply purposes in the cited provisions, and contractual structure governs cross border tax character. Circular No. 231 clarifies that authorised dealers' demo vehicles used to promote sale of similar passenger vehicles qualify for ITC (not blocked) where the dealer purchases and sells on its own account; if the dealer is merely an agent, ITC is not available. Capitalisation does not bar ITC except where depreciation on the tax component has been claimed, and applicable GST reversal rules apply on subsequent sale. Articles Goods and Services Tax - GST Wed, 18 Sep 2024 07:55:52 +0530 https://www.taxtmi.com/article/detailed?id=12937