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of <h1>GST Applicable on Deferred Annuities for Road Construction Services; Exemption Under Entry 23A Does Not Apply.</h1> The circular clarifies the applicability of GST on road construction activities where payments are received as deferred annuities. The GST Council, in its 43rd meeting, determined that GST exemption under entry 23A of notification No. 12/2017 does not apply to road construction services under heading 9954, even if payments are deferred as annuities. Entry 23A specifically covers services under heading 9967, which pertains to access to roads or bridges on payment of annuities or tolls. Therefore, GST is applicable on annuities for road construction services, as these do not fall under the exempted category.
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