GST exemptions and regularisation clarified for rail services, SPV infrastructure use, RERA fees, digital payment incentives, reinsurance and accommodation. Clarifies GST Council recommendations: Ministry of Railways public services and inter zonal supplies exempted and past liability regularized on an 'as is where is' basis; SPV supplies permitting use of infrastructure exempted and past transactions regularized; RERA statutory collections covered by governmental authority exemption; acquiring bank incentive sharing, where distributed as decided by the payment operator in consultation with participating banks, treated as a subsidy and not taxable; reinsurance (including retrocession) and certain accommodation supplies are exempt or regularized for specified past periods.
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GST exemptions and regularisation clarified for rail services, SPV infrastructure use, RERA fees, digital payment incentives, reinsurance and accommodation.
Clarifies GST Council recommendations: Ministry of Railways public services and inter zonal supplies exempted and past liability regularized on an 'as is where is' basis; SPV supplies permitting use of infrastructure exempted and past transactions regularized; RERA statutory collections covered by governmental authority exemption; acquiring bank incentive sharing, where distributed as decided by the payment operator in consultation with participating banks, treated as a subsidy and not taxable; reinsurance (including retrocession) and certain accommodation supplies are exempt or regularized for specified past periods.
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