The Central Government, under section 14 of the IGST Act, 2017, introduces amendments to the IGST Rules, 2017.
These rules, named the IGST Amendment Rules, 2017, came into force on July 1, 2017.
Rule 3 outlines the determination of the proportion of value attributable to different States or Union territories for the supply of advertisement services to government bodies or local authorities.
It provides detailed guidelines for calculating the value of advertisement services based on the medium used, such as newspapers, printed materials, hoardings, railway advertisements, radio, television, cinema halls, and the internet.
Illustrations accompany each guideline, offering practical examples for clarity.
These amendments aim to establish a standardized method for determining the value of advertisement services across different mediums and geographical locations.
They ensure transparency and accuracy in the assessment of tax liabilities related to advertisement services under the IGST Act, 2017.