https://www.taxtmi.com/circulars?id=69518 Clarification is issued on the valuation of import of services by a related person where the recipient is eligible for full input tax credit. The second proviso to Rule 28(1) of the APGST Rules deems the invoice value to be the open market value in cases involving related persons where full ITC is available, and this principle is stated to apply equally to import of services from a foreign affiliate to a related domestic entity. Where no invoice is issued, the value may be treated as Nil and still deemed to be open market value. en-us Mon, 01 Jul 2024 00:00:00 +0530 Tue, 14 Apr 2026 14:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=69518 Clarification is issued on the valuation of import of services by a related person where the recipient is eligible for full input tax credit. The second proviso to Rule 28(1) of the APGST Rules deems the invoice value to be the open market value in cases involving related persons where full ITC is available, and this principle is stated to apply equally to import of services from a foreign affiliate to a related domestic entity. Where no invoice is issued, the value may be treated as Nil and still deemed to be open market value. Circulars GST - States Mon, 01 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/circulars?id=69518