The Finance Act, 2023 has made three amendments to India’s goods and services tax (GST) law that could impact global companies without GST registration in India.
- Firstly, the place of supply (PoS) of goods transport services has been changed from the “destination of [the] goods” to “the location of [the] recipient” to put Indian shipping lines (ISLs) and foreign shipping lines (FSLs) on a level playing field.
- Secondly, the taxability of online information and database access or retrieval (OIDAR) services has been widened.
- Finally, the Finance Act has introduced a new provision that allows the government to waive or reduce late fees or interest on GST returns filed late.
Source International Tax Review
