‘Central Goods and Services Tax (“CGST”) + State Goods and Services Tax (“SGST”)’ would be applicable and not Integrated Goods and Services Tax (“IGST”), on intermediary services provided by an Indian agent to its Korean principal, where the agent is earning commissions on sale of machinery, in territory of India, in the capacity of an intermediary.
Source: a2ztaxcorp.com
Latest Posts in "India"
- Bombay HC Rules Freight Charges Reimbursed by Wholesalers Not Part of Sale Price
- GST Council announces major rate restructuring and exemptions
- Traders Face Penalties for Not Passing GST Reductions to Customers, Warns Government
- CBIC Clarifies GST Implications on Secondary or Post-Sale Discounts for Businesses
- India Slashes GST on Drones to 5%, Boosting Domestic Manufacturing and Sectoral Growth