New GST Circulars to clarify issues related to Vouchers, Online Services, Input Tax Credit
On December 31, 2024, the Central Board of Indirect Taxes and Customs (CBIC) issued a series of circulars addressing critical issues under the GST regime. These circulars provide clarity on various aspects, including the treatment of vouchers, place of supply for online services to unregistered recipients, and input tax credit (ITC) eligibility for goods delivered under Ex-Works contracts. With the aim of ensuring uniform implementation across field formations, these guidelines are crucial for taxpayers to comply effectively with GST regulations.
| Number | Date | Subject | Download |
|---|---|---|---|
| 243/37/2024-GST | 31-Dec-2024 | Clarification on various issues pertaining to GST treatment of vouchers | English |
| 242/36/2024-GST | 31-Dec-2024 | Clarification on place of supply of Online Services supplied by the suppliers of services to unregistered recipients | English |
| 241/35/2024-GST | 31-Dec-2024 | Clarification on availability of input tax credit as per clause (b) of sub-section (2) of section 16 of the Central Goods and Services Tax Act, 2017 in respect of goods which have been delivered by the supplier at his place of business under Ex-Works Contract | English |
| 240/34/2024-GST | 31-Dec-2024 | Clarification in respect of input tax credit availed by electronic commerce operators where services specified under Section 9(5) of Central Goods and Services Tax Act, 2017 are supplied through their platform | English |
The latest clarifications issued by CBIC underscore the evolving landscape of GST compliance. From defining the GST treatment of vouchers to clarifying the place of supply for online services and eligibility for ITC under Ex-Works contracts, these updates aim to resolve ambiguities and promote consistency. Taxpayers are encouraged to review these circulars in detail and implement the necessary changes in their operations. For further assistance, businesses can consult the full text of the circulars or seek professional guidance to ensure compliance and avoid penalties.
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