Karnataka Goods and Services Tax Amendment Act 2024

Karnataka Goods and Services Tax (Amendment) Act, 2024

An Act further to amend the Karnataka Goods and Services Tax Act, 2017(Karnataka Act 27 of 2017).

Whereas, it is expedient further to amend the Karnataka Goods and Services Tax Act, 2017 (Karnataka Act 27 of 2017), for the purpose hereinafter appearing;

Be it enacted by the Karnataka State Legislature in the seventy fifth year of the Republic of India as follows:-

1. Short title and commencement (1) This Act may be called the Karnataka Goods and Services Tax (Amendment) Act, 2024.

(2) Save as otherwise provided, the provisions of this Act shall come into force on such date, as the Government may, by notification in the Official Gazette, appoint.

2. Amendment of section 2.- In the Karnataka Goods and Services Tax Act, 2017 (Karnataka Act 27 of 2017) (hereinafter referred to as the principal Act), in section 2, for clause (61), the following shall be substituted, namely:-

"(61) "Input Service Distributor" means an office of the supplier of goods or services or both which receives tax invoices towards the receipt of input services, including invoices in respect of services liable to tax under sub-section (3) or sub- section (4) of section 9, for or on behalf of distinct persons referred to in section 25 and liable to distribute the input tax credit in respect of such invoices in the manner provided in section 20."

3. Substitution of section 20. For section 20 of the principal Act, the following section shall be substituted, namely:

"20. Manner of distribution of credit by Input Service Distributor.-(1) Any office of the supplier of goods or services or both which receives tax invoices towards the receipt of input services, including invoices in respect of services liable to tax under sub-section (3) or sub-section (4) of section 9, for or on behalf of distinct

persons referred to in section 25, shall be required to be registered as Input Service

Distributor under clause (viii) of section 24 and shall distribute the input tax credit

in respect of such invoices.

(2) The Input Service Distributor shall distribute the credit of State tax or

integrated tax charged on invoices received by him, including the credit or State

tax or integrated tax in respect of services subject to levy of tax under sub-section

(3) or sub-section (4) of section 9 paid by a distinct person registered in the same

State as the said Input Service Distributor, in such manner, within such time and

subject to restrictions and conditions as may be prescribed.

(3) The credit of State tax shall be distributed as State tax or integrated tax

and integrated tax as integrated tax or State tax, by way of issue of a document

containing the amount of input tax credit, in such manner as may be prescribed."

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