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GST under RCM on services procured from foreign directors - Goods and Services Tax - GSTExtract Having a glance at clarification issued by CBIC vide Circular No. 210/4/2024-GST dated 26 th June 2024 , it may be construed that in cases where the Indian Company has not paid any consideration to foreign director for supply of services provided by them and, consequently, no self-invoice has been issued by the Indian company, the value may be deemed as nil, thereby not attracting GST liability. Before this clarification was issued, many taxpayers were considering transaction between foreign director and Indian company as a supply even in the absence of consideration, and accordingly they were issuing self-invoice for compliance with GST law. Please share your inputs on the above whether the taxpayers shall still proceed with discharging liability on the said transaction where there is no consideration.
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