GST exemptions and regularisation clarified for railway services, RERA collections, digital incentives, reinsurance, retrocession, and accommodation services. Clarifications were issued on the GST treatment of specified services, including exemptions, regularisation of past periods on an 'as is where is' basis, and the scope of existing exemption entries for railways, real estate regulation, digital payment incentives, insurance reinsurance, retrocession, and accommodation services. GST exemption was clarified for certain services provided by Ministry of Railways to the general public and for inter-zonal services within Indian Railways, and related past periods were regularized. The circular also clarifies that statutory collections made by RERA are exempt, that further sharing of the notified digital payment incentive is a non-taxable subsidy, and that reinsurance includes retrocession services.
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GST exemptions and regularisation clarified for railway services, RERA collections, digital incentives, reinsurance, retrocession, and accommodation services.
Clarifications were issued on the GST treatment of specified services, including exemptions, regularisation of past periods on an 'as is where is' basis, and the scope of existing exemption entries for railways, real estate regulation, digital payment incentives, insurance reinsurance, retrocession, and accommodation services. GST exemption was clarified for certain services provided by Ministry of Railways to the general public and for inter-zonal services within Indian Railways, and related past periods were regularized. The circular also clarifies that statutory collections made by RERA are exempt, that further sharing of the notified digital payment incentive is a non-taxable subsidy, and that reinsurance includes retrocession services.
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