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of <h1>Delhi Grants VAT Exemption to New Development Bank Retroactively from 2017, Amending Sixth Schedule of VAT Act 2004.</h1> The Government of National Capital Territory of Delhi has issued a notification granting VAT exemption/refund to the New Development Bank (NDB) in New Delhi, following a request from the Ministry of External Affairs, India. This decision aligns with the principle of reciprocity for all taxable goods as per existing rules. The amendment to the Sixth Schedule of the Delhi Value Added Tax Act, 2004, includes the New Development Bank under the list of international organizations eligible for VAT exemption. This change is effective retroactively from March 22, 2017.
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