Many businesses believe that updating the licensing authority is enough. It isn’t.

With Cabinet Decision No. 129 of 2025 now being implemented in practice, taxable persons are required to notify the Federal Tax Authority within 20 business days whenever there is a change in their registered information.
Some common changes requiring an update include:
✅ Trade License renewal
✅ Change in business activities
✅ Change in shareholders, managers, or directors
✅ Change in business address
✅ Any other information previously provided to the FTA

Failure to update within the prescribed timeline may result in administrative penalties:
⚠️ AED 1,000 – First violation
⚠️ AED 5,000 – Repeated violation within 24 months
📌 One Practical Change Businesses Should Notice

The EmaraTax portal has also become more detailed.
When submitting amendments, the portal now requires taxpayers to provide the Effective Date of Change, enabling the FTA to determine exactly when the change occurred and whether the notification was made within the required 20-business-day period.

This means businesses should not only update their records—but also maintain proper documentation supporting the actual date on which the change became effective.

💡 Practical Tip
Don’t wait until your next VAT or Corporate Tax filing.

Develop an internal compliance process so that every corporate change—whether it’s a license renewal, shareholder update, management change, or address amendment—is reviewed for its FTA reporting implications immediately.

A small compliance step today can help avoid unnecessary penalties tomorrow.

Is your business updating the FTA on time, or only updating the licensing authority?

hashtag#UAEhashtag#UAETaxhashtag#FTAhashtag#EmaraTaxhashtag#VAThashtag#CorporateTaxhashtag#TaxCompliancehashtag#BusinessCompliancehashtag#TradeLicensehashtag#Governancehashtag#TheFirstCheckConsultantshashtag#DubaiBusinesshashtag#UAEBusinessDhiraj Sankhi CA, CIPA, CSCA Suraj SubediHeena ChughSarika SankhiThe First Check Consultants

📅 Effective: 16 June 2026

Applicants from the listed countries must submit a Good Conduct Certificate (Police Clearance Certificate) as part of their UAE visa application.

🌍 Countries Covered Under the Mandatory Police Clearance Certificate Requirement

Key Requirements:

✅ Obtain a Police Clearance Certificate from the competent authority in your home country.
✅ Get it attested by the UAE Embassy in your home country.
✅ Complete MOFA attestation in the UAE.
✅ Submit the attested certificate along with your UAE visa application.

⚠️ Early preparation is essential. Delays in obtaining or attesting the certificate could impact your visa processing timeline.

💡 TFCC Insight

Whether you’re an employer hiring overseas talent or an individual applying for a UAE visa, ensuring your documentation is complete before initiating the application can help avoid unnecessary delays, additional costs, and compliance issues.

At The First Check Consultants (TFCC), we assist with:
✔ UAE Visa & PRO Services
✔ Police Clearance Certificate Guidance
✔ UAE Embassy & MOFA Attestation Support
✔ Business Setup & Corporate Services

📞 Need assistance? Our experts are here to help you navigate the process smoothly.

🌐 www.thefirst-check.com
📧 Admin@thefirst-check.com
📞 +971 4 457 3223
📍 2403, Prism Tower, Business Bay, Dubai, UAE

Ensure Compliance. Drive Growth.

✅ eInvoicing is not limited to VAT-registered businesses
Businesses falling within the scope of the regime may still require a Tax Identification Number (TIN) even if they are not registered for VAT.

✅ VAT Group members must use their own TIN
The guidance clarifies that each VAT Group member will use its own participant identifier rather than the VAT Group representative’s TRN.

✅ Non-resident businesses can also fall within scope
Non-resident suppliers required to issue UAE tax invoices may be required to comply with UAE eInvoicing requirements.

✅ Exempt and out-of-scope transactions may still require electronic invoice reporting
The regime is broader than VAT and focuses on transaction reporting and invoice exchange.

✅ Legal responsibility remains with the taxpayer
Even where an Accredited Service Provider (ASP) is used, the taxpayer remains responsible for the accuracy and compliance of invoice data.

✅ Intra-group transactions remain within scope
While transitional relief is available in certain cases, businesses should not assume group transactions are automatically excluded.

What Businesses Should Do Now
🔹 Review whether all group entities have the required tax identifiers.
🔹 Assess ERP and master data readiness.
🔹 Evaluate transaction flows involving related parties, non-resident entities, and exempt supplies.
🔹 Start planning ASP integration and testing well before the mandatory go-live dates.

The latest guidance shows that UAE eInvoicing is not simply a VAT compliance exercise—it is a broader digital reporting framework that will impact finance, tax, IT, procurement, and intercompany processes across many organizations.

Are Foundations Subject to UAE CT?
As a general rule, a foundation incorporated in the UAE is considered a separate juridical person and falls within the scope of UAE CT. Therefore, unless a special exemption or transparent treatment applies, the foundation may be treated as a taxable person.

However, Article 17 of the UAE CT Law allows qualifying Family Foundations to apply for treatment as an Unincorporated Partnership (Tax Transparent Vehicle), resulting in the foundation itself not being subject to Corporate Tax

✅ Family Foundations
Where a foundation is established for family members and meets the conditions of Article 17 of the UAE Corporate Tax Law, it may qualify for tax transparent treatment, meaning the foundation itself may not be subject to
CT.

Conditions for Tax Transparent Treatment
A Family Foundation may qualify where:
✅ It is established for identified or identifiable natural persons (family members) or public benefit entities.
✅ Its primary purpose is holding, investing, managing, or distributing assets and investments.
✅ It does not conduct commercial business activities.
✅ It is not established primarily for CT avoidance

⚠️ Non-Family / Commercial Beneficiaries
If beneficiaries include unrelated persons, business partners, or corporate investors, the foundation may not qualify for Article 17 treatment and could become subject to UAE CT, along with additional compliance obligations.

🌍 Overseas Foundations & Trusts
UAE expats using foreign foundations or trusts should carefully assess:
• UAE management and control
• UAE-source income
• Permanent Establishment (PE) exposure
• Eligibility for tax transparent treatment

Key Takeaway
The tax outcome of a foundation can vary significantly depending on:
✔ Beneficiaries
✔ Activities performed
✔ Assets held
✔ UAE and overseas nexus

A properly structured family foundation can provide both succession planning benefits and tax efficiency, while non-family structures may trigger CT implications.

Need a review of your foundation structure?

The First Check Consultants Group can help assess UAE CT implications, compliance obligations, and structuring opportunities

The Cabinet Decision No. 100 of 2025, effective from 29 September 2025, builds upon these prior amendments.  It reflects the UAE’s commitment to creating a transparent, efficient, and globally consistent tax environment, while also ensuring that businesses operate under clear and updated compliance guidelines.

Key aspects of the Decision and applicable conditions:

1. Article 59 & 60 – Tax invoices & Tax Credit Note:

• Elimination of simplified invoices: The concept of simplified invoices has been removed under the e-invoicing framework. Consequently, businesses previously issuing simplified invoices for supplies below AED 10,000 will be required to issue e-invoices.
• Mandatory e-invoicing for zero-rated supplies: All zero-rated transactions, including exports of goods and services to non-UAE businesses, will be subject to e-invoicing requirements.
• Revised requirements for credit notes: Under the e-invoicing framework, credit notes will no longer be required to include the original invoice value, the corrected value, and the difference between the two. Instead, it will be sufficient to disclose the credit note amount along with the applicable VAT.
• Electronically issued invoice storage rules: Earlier provisions governing the storage and authenticity of electronically issued invoices and/or credit notes are no longer applicable under the new e-invoicing framework and are expected to be clarified further in due course.

2. Revised VAT Registration and Deregistration Rules

One of the most important updates revolves around VAT registration and deregistration.

1. Mandatory Registration Threshold: Remains at AED 375,000, but the enforcement mechanisms have been strengthened. Businesses that exceed this threshold must register within 30 days, and the FTA now has the authority to auto-register businesses if they fail to do so.
2. Voluntary Registration Threshold: Set at AED 187,500, allowing startups and small businesses to register early if they expect taxable supplies or expenses to exceed this limit.
3. Authority-Initiated Deregistration: A new clause, Article 14 (bis), empowers the FTA to deregister businesses that no longer meet VAT registration requirements or fail to comply with regulations — a move designed to protect the integrity of the tax system.
4. This emphasizes the importance of maintaining accurate records, filing timely returns, and ensuring continued eligibility under VAT law. Businesses can minimize risks by working with professionals offering VAT services in Dubai, ensuring ongoing compliance and avoiding penalties. 

Key take aways: 

• Operational Readiness: Companies must update billing systems and processes to generate full tax invoices compliant with detailed data requirements.
• E-Invoicing Preparation: The VAT framework amendments integrate closely with the forthcoming mandatory e-Invoicing system (piloted from July 2026). Businesses should prepare to issue structured digital invoices when brought into scope.
• Compliance Risk: Invoices lacking required information will no longer benefit from administrative exceptions — meaning penalties may apply for non-compliance.
• VAT compliance teams need to align internal controls with the updated rules and ensure systems can handle electronic invoice formats and data submission as defined by future e-Invoicing regulations.

Click here to read the official announcement

Key aspects of the Decision and applicable conditions:

1. Article 48, Clause 1 (Reverse Charge) : If the Taxable Person imports Concerned Goods or Concerned Services for the purposes of his Business, then he shall be treated as making a Taxable Supply to himself, and shall be responsible for accounting for the Due Tax on that Supply and complying with all other Tax obligations arising, with the exception of issuing a Tax Invoice to himself

FCC View: Taxpayers are no longer required to issue self-invoices when importing certain goods or services for business use. This change is intended to simplify compliance and reduce administrative burdens.

2. Article 54 (bis) added:
   1. The Authority shall reject the deduction of the Recoverable Input Tax if it is established to the Authority that the supply subject to the deduction was part of a supply or a chain of supplies related to Tax Evasion, and the Taxable Person was aware of this relation upon deducting the Recoverable Input Tax
   2. The Authority may reject the deduction of the Recoverable Input Tax if it is established to the Authority that the supply subject to the deduction was part of a supply or a chain of supplies related to Tax Evasion, and the Taxable Person should, based on circumstances of the supply, have been aware of this relation.
   3. For the purposes of applying the provisions of Clause b, the Taxable Person shall be considered to have been required to be aware that the supply was part of a supply or a chain of supplies related to Tax Evasion, if he did not verify the validity and integrity of the supplies he receives before deduction of Input Tax, in accordance with the measures, procedures and conditions determined by the Authority in this regard.

FCC View: FTA have put more responsibilities on the receipt of goods or services to do more due diligence of their suppliers and make sure all the suppliers in the supply chain pays the VAT to authority on time. 

3. Article 74, Clause 3 (Excess Recoverable Tax): If no request is submitted to recover the excess after offsetting, the excess shall be carried forward to subsequent Tax Periods for a period not exceeding (5) five years from the end of the Tax Period in which the excess arose. In the event that no request to recover the excess has been submitted or it was not used to settle any Tax liabilities before the expiry of this period, the right to claim such excess shall lapse and may not be used to settle any Tax liabilities 

FCC View: Businesses are advised to review and ensure that all excess recoverable input tax is claimed or applied against VAT liabilities within the five-year period to prevent the expiration of the right to claim and the potential loss of recoverable VAT. Also, for all the existing cases extension till 31.12.2026 is provided by the authority. 

4. Article 79 (bis) – Statute of Limitation: It should be noted that this Article has been repealed, and any provisions that conflict with the UAE VAT Law are no longer applicable/valid. 

Key take aways: 

1. No need of self invoicing for the import of goods/services imported for business use
2. Refund application should be filed within 5 years from the end of tax period
3. Recipient of goods/services need to do more due diligence of their suppliers, as authority reserves the right reject the VAT input in case part of a chain linked to tax evasion and the taxpayer was aware of this connection when claiming the deduction.

Click here to read the official announcement

What Makes an AML Consultancy “Best” in Dubai?

Finding the best AML consultants in Dubai entails looking beyond simple services into knowledge, experience, and proactive approach of the firm. Some considerations are:

1. Deep Understanding of UAE Regulations: The UAE’s AML/CFT regime is constantly evolving, with a series of decrees, cabinet decisions, and guidelines issued from time to time by various authorities such as the Central Bank of the UAE (CBUAE) and Ministry of Economy (MoEc). The Best AML Consultants in Dubai thus possess very fine levels of comprehension of specific local regulations so that your business complies with every single minutia. Clients must be confident that these consultants are fully aware of Federal Decree-Law No. (20) of 2018, Cabinet Decision No. (10) of 2019, and their subsequent amendments.

2. Proven Track Record and Industry Experience: The premier AML consultancy shall have successfully implemented projects in compliance matters for industries ranging from financial institutions to Designated Non-Financial Businesses & Professions (DNFBPs) such as real estate, precious metals and stones dealers, legal professionals, and company service providers. Their experience may allow them to address various types of business models, and risk profiles are imminent to vary. Witnessing their track record in action should lead to testimonials and case studies that prove their efficacy.

3. Comprehensive for Service Offering: AML compliance is a wide universe. Best AML consultants in Ras-Al Khaimah, Dubai, and across the UAE offer holistic suites of services, including

• Risk Assessment and Gap Analysis: To the identification of your business’s specific vulnerabilities to money laundering and terrorism financing.
• Policy and Procedure Development: Specially written AML/CFT policies and internal controls and SOPs for your operations.
• Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD): Assisting you in implementing a robust KYC process, including the identification of beneficial ownership and screening against sanctions lists (UAE, UN, OFAC, etc.).
• GoAML Portal Registration and Reporting: Carrying out registration at the mandatory level for any person before the UAE Financial Intelligence Unit (FIU) GoAML portal and assisting in compiling and transmitting reports on suspicious transactions (STRs) and suspicious activity (SARs) promptly and correctly, as well as any other reports that may be required.
• AML Training: Carrying out tailor-made training programs for staff so that they understand the roles of AML compliance, recognize red flags, and know to whom to report.
• Independent AML Audits: Conducting an independent review from time to time of your AML framework to assess its overall effectiveness and to recommend any improvements. This is Meticulously Important in enabling you to demonstrate your due diligence while still being able to comply.
• Regulatory Liaison and Inspection Support: Depending on the situation, acting on behalf of your business and providing support during regulatory inspection or audits undertaken by supervisory authorities.

Technological Integration: In a highly digital world, effective AML compliance is very often achieved by technology. Accordingly, best AML consultants in Abu Dhabi employ the best solutions in transaction monitoring, automated screening, and data analytics to bring about the precision and efficiency of the compliance processes, so that businesses would be able to keep up with changes in financial-crime tactics.

Proactive and Strategic Approach: An ideal consultant does more than just make sure you are compliant. Instead, they give strategic aid to ensure your AML measures are smoothly laid across your business operations. They lead you in foreseeing changes in the law and in altering your framework ahead of time, thus placing compliance in the spotlight as your competitive advantage instead of a drawback.

Why Hire Top AML Consultants?

Partnering with the Best AML consultants in UAE is necessary for certain reasons:

Avoid Hefty Penalties: A person can be heavily fined and the operations restricted, including criminal prosecution, for non-compliance with AML laws in the UAE. Expert consultants help in averting such risks.

Protect the Reputation: A good reputation having integrity and compliance is good in the financial world. Adherence to the AML laws establishes trust amongst fellow clients, partners, and regulators.

• Improved Risk Management: With the advice of experts, the businesses can undertake the effective detection, assessment, and mitigation of risks associated with money laundering and financing of terrorism, to protect their assets and operations.
• Concentrate on Core Business Activities: Outsource sophisticated AML compliance work so your team may focus on its core business activities to optimize efficiency and profitability.
• Keep Abreast: Considering continuous changes in regulations, an AML Consultant keeps your businesses abreast of changing requirements and best practices, whether being situated in Dubai, Ras Al Khaimah, or Abu Dhabi.
• Selecting the right AML consultancy is the process of investing in your business for future gains-protecting its integrity, keeping it secure, and ensuring its existence in the highly dynamic marketing scene of the UAE.

Selecting the Appropriate Business Jurisdiction (Free Zone versus Mainland)

One crucial setup factor affecting cost is the jurisdiction. Dubai offers two principal options: Mainland and Free Zones.

• Free Zones: These economic zones grant the advantages of 100% foreign ownership, full repatriation of profits, and sometimes tax exemptions for a determined period. Free zones are usually cheaper for initial setup, especially if your business deals with international marketing or services outside the local UAE market. Many free zones provide office solutions like Flexi-desk office space or shared workstations to keep rental overheads down.
• Mainland: While mainland companies provide direct interaction with the local UAE market, they usually cost more to set up because of further licensing requirements and the necessity of office space.

Having business setup services and consultants in UAE impart the necessary consulting to help you evaluate which jurisdiction best aligns with your business model and budget. Assist and guide you in the complex pathways of each option to assist you in looking for the most cost-effective way.

Opt for Cost-Effective Office Solutions

The carpeted stovepipe of real estate can spend on an office space. To save cost, you can:

• Virtual Offices: Perfect for service-based businesses or freelancers, nary a physical office space is moulded in the creation of a business address, thereby greatly diminishing rental and utilities.
• Co-working Spaces: Its traders in shared office environment where one can pay as one needs-provision of a working environment, meeting rooms, and networking, cheaper than the premium price a share of a private office usually commands.
• A Flexi-desk: Mostly available in Free Zones, it allows the use of a desk for so many hours per week or per month, giving a semblance of a physical presence without being tied to a full-time office lease.

Go Lean and Scale Up

Lean startup approach should be the mantra in running a business. Perfect, as this option forgets any concept of one-day opening of a business with heavy investment into infrastructure and a big team. So, it starts with bare minimum resources and grows exactly as the business grows.

Outsourcing Non-Core Functions: One option to outsourcing is to give accounting, HR, or IT to specialized companies rather than hiring full-time persons for each line of work. This would help reduce salaries, visa, and benefits costs.

• Leverage Technology: Cloud-based software is well suited for the purposes of accounting, project management, and CRM. Many inexpensive or free software online can help them manage their databases efficiently and keep operations running smoothly without the need of developing their own in-house system.
• MVP: In launching a product/service, please consider an MVP, which will help test the market, provide feedback upon which to iterate and eventually find the full offering as a low-risk investment.

Pick Business Activity Thoughtfully

The cost of your trade license may dramatically change depending upon your choice of activity. Activities requiring special approvals from various governmental agencies also add to higher costs, as well as time involved. A knowledgeable business setup consultant in UAE can advise you on activities that come with fewer complexities for setup and lesser fees, thus making it simpler for your initial investment.

Partnering with Expert Business Setup Consultants

Arguably one of the most cost- and time-saving tips is to hire a trustworthy best Business setup firm in Dubai. It can seem like an extra cost, but their know-how will save you in the long run from highly expensive error and delay.

Navigating the Regulations: Establishing a business in the UAE can prove a difficult road. Consultants will carry the knowledge relevant to requirements from licensure through government policies affecting Dubai, Ras Al Khaimah, and Abu Dhabi. They allow you to file your application right the first time, avoiding rejection and the payment of resubmission fees.

• Uncovering Opportunities for Cost Savings: The best Business setup firm in Ras-Al Khaimah or the best Business setup firm in Abu Dhabi will be aware of the latest till incentives, low-cost packages, and best jurisdictions corresponding to your budget and business needs.
• Process In Place: They do the paperwork, deal with government agencies, and expedite the approvals to reduce setup time immensely. Time saved is money saved.
• Tailored Solutions: The best Business setup firm in UAE would apply customized solutions based on your business activity, with respect to your budget and its long-term objective so that you will never pay for services you don’t need.

With these tips in mind along with good business setup services and consultants in UAE, you can embark on your entrepreneurial journey confidently in Dubai with powerful foundations on which to succeed, so while managing your pay-out-up-front capital in the process.

If you are a start-up founder or have an established company and looking for its expansion, then with the step-by-step guide can be helpful for you to navigate the process for the setting up of a business with the help of business setup consultants in UAE.

Setup a Business in the UAE

Select the Business Activity

Choosing the business activity is a crucial step when setting up a company in UAE. It clearly defines the scope of operations the company will legally be allowed to carry out and directly influences the type of license the company will need. The UAE government provides a comprehensive list of permitted business activities – under each licensing authority, whether mainland or free zone. It is essential to carefully review the options and select the activity that best aligns with the business goals.

A management consulting in the UAE will be helpful in making the right decision at this stage to ensure regulatory compliance.

Select the Appropriate Business Zone

Selecting the appropriate jurisdiction is a critical decision that shapes the operational, financial and legal framework of the business in UAE. The UAE is divided into three main jurisdictions as Mainland, Free Zone and Offshore.

Mainland: Mainland businesses are licensed by the Department of Economic Development and it is ideal for companies looking to serve both local and international clients and participate in government projects.

Free Zones: Free zones are designated economic areas that offer 100% foreign ownership, tax exemptions, simplified setup processes and sector-specific benefits. They are best suited for businesses that primarily trade internationally or operate in niche sectors like technology, finance or media.

Offshore: Offshore jurisdictions are tailored that require a UAE legal presence for international operations without physical offices. They are commonly used for asset protection, holding companies or international trading.

So, with the help of business setup services and consultants in UAE, evaluate your business model, target market and expansion plan before making any decision.

Choose the Appropriate Business Entity

Choosing the right legal structure is necessary to determine your company’s ownership model, legal liability, financial responsibilities and the type lo license required. The UAE offers several legal structures, each with its own set of requirements and advantages, as:

Sole Proprietorship – Operated and owned by single individual and ideal for small-scale service providers or freelancers.

Limited Liability Company – It is a common structure in mainland of UAE and requires 2 to 50 shareholders and offering flexibility for a wide range of business activities.

Civil Company – Designed for professionals such as doctors, engineers and consultants. This structure allows full foreign ownership in mainland UAE and typically used for service-based businesses.

Free Zone Establishments – These structures are registered within specific free zones and offer full foreign ownership, quick incorporation and access to sector-specific benefits. Such companies needs local distributor to trade directly business in the UAE mainland.

Branch of a Foreign Company – This allows an existing company to set up a physical presence in the UAE without forming a new legal entity.

For choosing the legal structure, it is advisable to consult business setup services and consultants in UAE.

Secure a Company Name and Get Government Approval

Select the unique trade name that reflects your brand and complies with the UAE’s naming regulations. After reserving the trade name, you must apply for initial approval to process with the business setup. With this approval, it is confirmed that the Government has no objection in stetting of your business, but it is a prerequisite for obtaining your business license.

Prepare Legal Documents

Some legal documents required for the business setup process in the UAE includes:

Memorandum of Association

Articles of Association

Local Service Agent Agreement

Shareholder or Partner Document

Board Resolution

Engaging a managing consultant in UAE can help to ensure that all documentation complies with local laws.

Obtaining Business License

Obtaining a business license is a final step in establishing a company in the UAE. The license may base on your business activity – commercial, professional, industrial and tourism. This license legally authorizes to operate the business within chosen jurisdiction. After receiving it, you can apply for Visa and open a bank account.

Wrap-up

Choosing The First Check Consultants in the UAE can be a strategic move for setting up a business in the UAE offering access to a thriving economy, global markets and a supportive regulatory environment which complies with the UAE regulations.

Barter Transactions: Taxable persons receive monetary consideration for the supplies they make but consideration may also be received in the form of goods or services, i.e. non-monetary consideration. Transactions which involve the exchange of goods and/or services, are known as barter transactions.

Barter transactions involve at least two supplies, i.e. each party makes a supply to the other. Such supplies are subject to the general VAT rules, nevertheless, special valuation rules apply

Public clarification TAXP042: Underlying clarification explains the principles to determine the value of supply for the non-monetary part of the consideration. The following principles apply

1. The market value of a supply of goods or services is the monetary consideration the supply would generally achieve if supplied in similar circumstances at that date in the UAE, being a supply freely made between persons who are not connected in any manner
2. Where the market value could not be determined as per principle 1 above, the market value is the monetary consideration which a similar supply would achieve if supplied in similar circumstances at that date in the UAE, being a supply freely offered and made between persons who are not connected in any manner.
3. Where the market value could not be determined as per principles 1 and 2 above, the market value shall be determined by reference to the replacement cost of identical goods or services, with such supply being offered by a supplier who is not connected to the recipient of goods or recipient of services in any manner

Example: A consulting firm and IT firm, which are registrants, enter into a barter agreement, as per the following:

• IT firm will provide software’s like ERP, HR worth AED 35,000
• Consulting firm will provide auditing services worth AED 15,000 and Balance AED 20,000 in cash

VAT Treatment

• In the above example, IT firm should raise Tax invoice for AED 35,000 inclusive of VAT to consulting firm
• Consulting firm should raise Tax invoice for AED 15,000 inclusive of VAT to IT firm

Key take aways:

VAT treatment/Law implication should be done for each leg of the transaction

• Taxable person should not net off the transactions i.e as mentioned in the example IT firm should not raise invoice for AED 20,000 (inclusive of VAT) net off the services received from consulting firm
• Both the parties in the barter transaction should raise tax invoice for the services/goods provided by them to each other.
• Value of a supply needs to be as per the principle mentioned in the public clarification

Click here to read the official announcement