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of <h1>GST Exemption for Services by ADB and IFC Confirmed; Immunity Prevails Over Conflicting National Laws.</h1> The circular addresses the applicability of GST on services provided by 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, which grant immunity from all taxation and customs duties. This exemption applies to services directly provided by ADB and IFC, not to entities working on their behalf. The circular references legal precedents affirming that international agreements protecting such organizations from taxation override conflicting national laws. Any issues in implementing this circular should be reported to the relevant authorities in Himachal Pradesh.
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