https://www.taxtmi.com/circulars?id=65967 In BF/BC arrangements under RBI guidelines, the banking company is the service provider and must pay GST on the entire service charge or fee charged to customers, as BF/BCs are prohibited from directly charging customers and transactions must be reflected in bank books. Exemption for services related to accounts in a rural area branch requires the services to fall under Heading 9971 and relate to a branch classified as rural per RBI guidelines; the bank's RBI-based classification should be accepted for exemption eligibility. en-us Tue, 01 Jan 2019 00:00:00 +0530 Sat, 29 Oct 2022 15:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=65967 In BF/BC arrangements under RBI guidelines, the banking company is the service provider and must pay GST on the entire service charge or fee charged to customers, as BF/BCs are prohibited from directly charging customers and transactions must be reflected in bank books. Exemption for services related to accounts in a rural area branch requires the services to fall under Heading 9971 and relate to a branch classified as rural per RBI guidelines; the bank's RBI-based classification should be accepted for exemption eligibility. Circulars GST - States Tue, 01 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/circulars?id=65967