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Major GST relief for foreign holding cos in intra-loan transactions

Business Standard LogoBusiness Standard4d ago

Major GST relief for foreign holding cos in intra-loan transactions - Business Standard

Quick Summary:

Moreover, it sparks a wider debate on taxing cost-to-cost reimbursements across different business scenarios, potentially influencing interpretations of GST applicability in similar contexts,” said Saurabh Agarwal, tax partner, EY.

If no invoice exists, the service value can be considered nil.“This clarification was needed to end litigation on taxing loans among group companies.

Additional fees, commissions, or related payments — over and above the amount charged as interest — on these loans will attract GST at 18 per cent, the Central Board of Indirect Taxes and Customs (CBIC) has said.


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Article Details

Category: BusinessFinance

Markets:

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Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-06-27 @ 21:18:09 (4 days ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 463 words

Reading Time: 3 minutes read

Sentences: 20 lines

Sentence Length: 24 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 21403484

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Main Topics: BusinessFinance

Official Website: business-standard.com

Update Frequency: 243 posts per day

Year Established: 1975

Headquarters: India

News Last Updated: 2 hours ago

Coverage Areas: India

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Publisher ID: #49

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