Are services supplied without consideration to a recipient other than ‘related party’ / ‘distinct person’ taxable? Section 7 of the CGST Act, 2017 read with Schedule I thereto provides that services supplied without consideration to related persons or distinct persons only would qualify as ‘supply’. Also import of services by bank from a related person or… Read More »
GST on Banking Sector : Free Study Material Free Book : Compliances of Service Tax/ GST in Banking Sector GST FAQs on Financial Services Sector (Banking, Insurance , Stock Broker) published by CBIC No GST if free Services provided by Banks ? Rule 38 CGST Rules 2017 : Claim of credit by a banking company… Read More »
Govt rules out centralised registration for banks under GST The government on Monday ruled out centralised registration for banks under the Goods and Service Tax (GST) and has mandated separate registration for each state they operate in. Banks have been demanding a single centralised registration system, like at present, as they feel multiple registrations would… Read More »