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of <h1>Rajasthan Clarifies GST Rules: Banks Liable for Charges by Business Facilitators, Rural Exemption Applies Per Notification No. F. 12(56)FD/Tax/2017.</h1> The circular from the Government of Rajasthan clarifies the GST implications on services provided by Business Facilitators (BF) or Business Correspondents (BC) to banking companies. It specifies that banks, not BFs or BCs, are liable to pay GST on the service charges collected from customers, as per RBI guidelines. Furthermore, for services related to accounts in rural area branches, the exemption from GST is applicable if the services meet specific criteria outlined in Notification No. F. 12(56)FD/Tax/2017-Pt-I-50. The classification of a branch as rural and the services provided by BFs/BCs should align with RBI guidelines.
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