central board of indirect taxes and

Holding shares of subsidiary not liable to GST, says CBIC

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Holding shares of subsidiary not liable to GST, says CBIC

Holding of shares of subsidiary companies by holding company is not a “supply” and it will not attract any goods and services tax (GST). The Central Board of Indirect Taxes and Customs (CBIC) Monday came up with a series of clarifications including on the much disputed Input service distributor (ISD) mechanism and the cross charge … Read more

CBIC notifies the Customs Valuation Rules 2023, effective from February 11

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CBIC notifies the Customs Valuation Rules 2023, effective from February 11

From next month, importers will have to furnish additional information at Customs Automated System while filing a bill of entry in case of “specified goods”. The centre has notified the Customs (Assistance in Value Declaration of Identified Imported Goods) Rules, 2023, aimed at addressing the undervaluation of specified imported goods. The rules will be effective … Read more