GST:
The CBIC has issued a notification to amend RCM Notification No. 13/2017-Central Tax (Rate) and now sponsorship services provided by the body corporates would be under Forward Charge Mechanism. Also, taxpayers registered under composition levy scheme are excluded to pay GST under RCM on renting of any commercial/ immovable property (other than residential dwelling).
[Notification No. 07/2025-Central Tax (Rate) dated 16.01.2025]
