Tax immunity for multilateral financial institutions protects ADB and IFC services from GST, excluding contractors working for them. Services supplied directly by the Asian Development Bank and the International Finance Corporation are exempt from GST under the statutory immunities in the ADB Act, 1966 and the IFC Act, 1958, which also relieve them of obligations to collect or remit taxes. A tribunal precedent supports that such immunities prevail over domestic tax provisions. The exemption applies only to services provided by ADB and IFC and does not extend to entities appointed by or acting for them.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Tax immunity for multilateral financial institutions protects ADB and IFC services from GST, excluding contractors working for them.
Services supplied directly by the Asian Development Bank and the International Finance Corporation are exempt from GST under the statutory immunities in the ADB Act, 1966 and the IFC Act, 1958, which also relieve them of obligations to collect or remit taxes. A tribunal precedent supports that such immunities prevail over domestic tax provisions. The exemption applies only to services provided by ADB and IFC and does not extend to entities appointed by or acting for them.
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