Finance Ministry issues Clarification w.r.t scope of “as is / as is, where is basis” mentioned in GST Circulars [Read Circular]
In GST, terms "as is" and "as is, where is basis"is applied to regularise payments made in the past at lower or nil rates without demanding any additional tax or refund for differential amounts
By Navasree A.M - On October 13, 2024 4:37 pm - 3 mins read
The Ministry of Finance has issued a circular to clarify the use of the terms “as is” and “as is, where is basis” in the context of Goods and Services Tax (GST) circulars. This clarification was needed due to concerns from both businesses and tax authorities about the regularization of past GST payments where there…
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