The CBIC has released 16 Circulars to provide clarity on GST
The Central Board of Indirect Taxes and Customs (CBIC) has released 16 circulars. The circulars provide important clarifications and guidelines for various aspects of the Goods and Services Tax (GST) regime in India.
Circular No. 207 sets monetary thresholds for the Department’s appeals or applications to the GST Appellate Tribunal, High Courts, and the Supreme Court.
Circular No. 208 clarifies special procedures for manufacturers of certain goods.
Circular No. 209 interprets the place of supply rules under the Integrated Goods and Services Tax Act, 2017.
Circular No. 210 deals with the valuation of imported services by related parties where the recipient can claim full input tax credit.
Circular No. 211 clarifies the deadline under section 16(4) of the Central Goods and Services Tax (CGST) Act, 2017 for supplies from unregistered persons under the Reverse Charge Mechanism.
Circular No. 212 outlines how suppliers can prove compliance with certain conditions of section 15(3)(b)(ii) of the CGST Act.
Circular No. 213 addresses the tax implications of reimbursement of securities or shares under Stock Option Plans (SOPs), Employee Stock Purchase Plans (ESPPs), or Restricted Stock Units (RSUs).
Circular No. 214 covers the need to reverse input tax credit for life insurance premiums not included in the taxable value.
Circular No. 215 clarifies the tax treatment of wreck and salvage values from motor insurance claims.
Circular No. 216 provides further details on GST liability and input tax credit for warranties and extended warranties, building on previous guidance in Circular No. 195/07/2023-GST dated July 17, 2023.
Circular No. 217 explains input tax credit eligibility for insurance companies on motor vehicle repair costs.
Circular No. 218 discusses the tax implications of loans between related entities, including overseas affiliates.
Circular No. 219 examines the input tax credit for ducts and manholes used in OFC networks under Section 17(5) of the CGST Act, 2017.
Circular No. 220 defines the place of supply for custodial services provided by banks to Foreign Portfolio Investors.
Circular No. 221 sets the time of supply for annuity payments in Hybrid Annuity Model projects.
Circular No. 222 establishes the time of supply for spectrum allocation to telecom companies. These circulars are aimed at providing clarity on contentious issues to taxpayers, professionals, and GST officials.
The CBIC has released 16 Circulars to provide clarity on GST:
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