https://www.taxtmi.com/circulars?id=61101 Under RBI guidelines banks appoint BF/BC, pay commission, prohibit BF/BC from charging customers, and account for transactions in the bank's books; the banking company is the service provider and liable to pay GST on the entire service charge or fee charged to customers. For the rural-branch exemption, services by BF/BC must fall under Heading 9971 and relate to accounts of a branch classified as rural under RBI guidelines, with the bank's RBI-based classification being accepted for exemption purposes. en-us Wed, 27 Feb 2019 00:00:00 +0530 Fri, 24 May 2019 17:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=61101 Under RBI guidelines banks appoint BF/BC, pay commission, prohibit BF/BC from charging customers, and account for transactions in the bank's books; the banking company is the service provider and liable to pay GST on the entire service charge or fee charged to customers. For the rural-branch exemption, services by BF/BC must fall under Heading 9971 and relate to accounts of a branch classified as rural under RBI guidelines, with the bank's RBI-based classification being accepted for exemption purposes. Circulars GST - States Wed, 27 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/circulars?id=61101