CBIC notifies Shift in Taxability of Goods and Services Supplied by Indian Railways to FCM to Avail ITC

CBIC - Amendments - GST Rates-Grants Exemption - Indian Railways-TAXSCAN

The Central Board of Indirect Taxes and Customs (CBIC) notified amendments through Notification No. 19/2023-Central Tax (Rate) to Goods and Service Tax (GST) Rates which changes the taxability of Indian railways from Reverse Charge Mechanism (RCM) to Forward Charge Mechanism (FCM) enabling them to avail Income tax Credit (ITC). Exercising powers conferred by sub-section (3)…

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