India’s Finance Act, 2024 Makes Changes to the Input Service Distributors Mechanism in the GST Regime

While the Finance Act 2024 makes some amendments to income-tax provisions, such as the treatment of agricultural income, it maintains the current tax rates for FY 2024-25. Other amendments in the enacted law include updates to the Central Goods and Services Tax Act, 2017 concerning Input Service Distributors and penalties for the failure to register certain machines used in the manufacture of good…