India Amends Supply Chain-Related GST Rules
India’s Central Board of Indirect Taxes and Customs amended its goods and services tax rules affecting supply chain actors, according to a Jan. 3 KPMG post. The rules, which took effect Jan. 1, include an “alternative composition scheme” for suppliers…
Sign up for a free preview to unlock the rest of this article
Export Compliance Daily combines U.S. export control news, foreign border import regulation and policy developments into a single daily information service that reliably informs its trade professional readers about important current issues affecting their operations.
with an annual turnover of about $70,000 and a “higher exemption threshold through the specific request of the state and recommendation of the GST council,” KPMG said. The rules also make changes to “modes of electronic payment for specified suppliers” and penalties for profiteering violations.