The government is likely to exclude related-party transactions from the ambit of goods and services tax (GST) if there is no commercial consideration involved. This decision will benefit companies across sectors, particularly those with foreign branches that engage in transactions with one another. The government aims to simplify the law and eliminate ambiguities regarding the tax treatment of related-party transactions.
Source A2ztaxcorp
Latest Posts in "India"
- Nirmala Sitharaman Explains GST Reforms Using Popcorn Example to Highlight Classification Challenges
- GST Overhaul: Cheaper Small Cars, Bikes; Higher Tax on Premium Vehicles from September 22, 2025
- GST Revamp: 40% Tax on Sin Goods and Luxury Items Explained
- GST Council Unveils Next-Gen Reforms: Export Services, Refunds, Tribunal, and Rate Simplification
- India’s GST Council Recommends Tax Exemptions, Simplified Structure, and Rate Reductions Effective September 22