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Taxation Goa Ministry of Finance Goa Goods and Services Tax Act, 2017

Goa Goods and Services Tax (Second Amendment) Act, 2024

21-Aug-2024 | 7/12/2024-LA-150

Government of Goa has issued the Goa Goods and Services Tax (Second Amendment) Act, 2024.

Key highlights include:

1. Definition of Input Service Distributor: An Input Service Distributor (ISD) is defined as an office of the supplier of goods or services (or both) that receives tax invoices for input services, including invoices for services taxable under section 9(3) or 9(4), for or on behalf of distinct persons as defined in section 25. The ISD is responsible for distributing the input tax credit related to these invoices as specified in section 20.

2. Distribution of Input Tax Credit: The ISD must distribute the credit of State tax or integrated tax charged on invoices received, including the credit of State or integrated tax on services taxable under section 9(3) or 9(4), paid by a distinct person registered in the same State as the ISD. This distribution must be carried out in the manner, time, and subject to the restrictions and conditions prescribed.

Note: The provisions of this Act will come into force on a date specified by the Government through a notification in the Official Gazette, with the possibility of different provisions coming into effect on different dates.

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