03
November
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GST Update – Update on Clarifications issued by CBIC
CBIC has issued various circulars clarifying various aspects accordance with the announcement made by the GST Council in the 52nd Meeting. This alert contains the summary of the clarifications issued by the CBIC.
Following points have been clarified by the CBIC:
- Realisation of export consideration in INR
- Clarification on place of supply in case of transportation services, services related to advertising sector and co-location/hosting services.
- Clarification regarding GST rate on imitation zari thread or yarn
- Clarification related to renting of motor vehicle services, recovery of electricity by the landowners from the tenants, job work related to ‘Barley’, services provided by District Mineral Foundation Trusts and services provided to CPWD.
Copies of the relevant circulars are also attached for reference. Please click the below link to read/download the circulars.
Trust, you find this alert timely and useful. Kindly reach in case of any clarifications required.