The Interim Budget 2024 has introduced amendments to the definition and procedures related to the Input Service Distributor (ISD) concept under the Goods and Services Tax regime. These include mandatory ISD registration to distribute common input services, modification in the manner of distribution and broadening the scope of the ISD definition to include invoices for services subject to Reverse Charge Mechanism (RCM).
These amendments mandate prompt action from organisations operating in multiple states that have not yet registered as ISDs. Grant Thornton Bharat offers comprehensive services to assist with ISD registration, implementation, and compliance support. Connect with our experts to understand the amendment in detail and assess its impact on your organisation.
How Grant Thornton Bharat can help ?
-
Evaluation 
- Evaluating the requirement for obtaining ISD registration
- Determining number of ISD registrations required
-
Registration
- Assistance with obtaining ISD registration (s)
-
Implementation
- Determining the mechanism for ISD distribution
- Identifying common expenses required to be transferred via ISD
- Guidance on changes to purchase orders and vendor communications (if required)
-
Compliance support
- Monthly ISD return filing under GSTR-6
By submitting this form, you consent to receive communications from our firm. Your data will be protected in accordance with the privacy policy
