https://www.taxtmi.com/circulars?id=68082 Penal charges levied by Regulated Entities in compliance with RBI directions are treated as charges for breach of contract and not consideration; hence no GST is payable on such penal charges. RBI regulated Payment Aggregators that handle settlement into escrow qualify as "acquiring bank" for the exemption on settlement of amounts up to two thousand rupees per card transaction, limited to settlement functions; Payment Gateways are excluded. Various historical GST liabilities on specified services by government research providers, skilling training partners, renting to composition taxpayers, electricity ancillary services, and cultural institutes are regularized on an "as is where is" basis for identified intervening periods. en-us Tue, 28 Jan 2025 00:00:00 +0530 Tue, 28 Jan 2025 17:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=68082 Penal charges levied by Regulated Entities in compliance with RBI directions are treated as charges for breach of contract and not consideration; hence no GST is payable on such penal charges. RBI regulated Payment Aggregators that handle settlement into escrow qualify as "acquiring bank" for the exemption on settlement of amounts up to two thousand rupees per card transaction, limited to settlement functions; Payment Gateways are excluded. Various historical GST liabilities on specified services by government research providers, skilling training partners, renting to composition taxpayers, electricity ancillary services, and cultural institutes are regularized on an "as is where is" basis for identified intervening periods. Circulars GST Tue, 28 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/circulars?id=68082