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of <h1>Rajasthan Tax Department Clarifies GST Exemption for ADB and IFC Under ADB Act 1966 and IFC Act 1958.</h1> The circular issued by the Rajasthan Commercial Tax Department addresses the applicability of GST on the Asian Development Bank (ADB) and the International Finance Corporation (IFC). It clarifies that both ADB and IFC are exempt from GST under their respective acts, the ADB Act of 1966 and the IFC Act of 1958, which provide immunity from all taxation and customs duties. The exemption applies solely to services provided directly by ADB and IFC, not to any third parties working on their behalf. This clarification aligns with existing laws and international agreements that preclude the imposition of GST on these entities.
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