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of <h1>Finance Bill 2024 Expands Input Service Distributor Role in CGST Act, May Require New Registration and Cross-Charging.</h1> The Finance Bill, 2024 proposes significant changes to the definition of 'Input Service Distributor' (ISD) under the Central Goods and Services Tax (CGST) Act, 2017. The amendments expand the ISD's role to include tax invoices for services under the reverse charge mechanism and allow distribution of input tax credit (ITC) on behalf of distinct persons within the same Permanent Account Number (PAN). This aims to streamline ITC distribution across business entities, enhancing efficiency. However, the proposed changes may necessitate mandatory ISD registration and could complicate the handling of common services, potentially requiring cross-charging for such services.
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