https://www.taxtmi.com/circulars?id=68202 Clarification aligns CBIC Circular No. 245/02/2025-GST with the State law and clarifies GST treatment: penal charges levied by regulated entities per RBI directions are not subject to GST; RBI regulated Payment Aggregators undertaking settlement qualify as "acquiring bank" for the Sl. No. 34 exemption limited to settlement functions; multiple past positions are regularised on an "as is where is" basis (R&D grants, NSDC Training Partner exemptions, composition taxpayer rental reverse charge, incidental electricity services); facility management to MCD HQ is taxable; DDA is not a "local authority"; Goethe Institute supplies regularised. en-us Fri, 28 Feb 2025 00:00:00 +0530 Mon, 17 Mar 2025 18:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=68202 Clarification aligns CBIC Circular No. 245/02/2025-GST with the State law and clarifies GST treatment: penal charges levied by regulated entities per RBI directions are not subject to GST; RBI regulated Payment Aggregators undertaking settlement qualify as "acquiring bank" for the Sl. No. 34 exemption limited to settlement functions; multiple past positions are regularised on an "as is where is" basis (R&D grants, NSDC Training Partner exemptions, composition taxpayer rental reverse charge, incidental electricity services); facility management to MCD HQ is taxable; DDA is not a "local authority"; Goethe Institute supplies regularised. Circulars GST - States Fri, 28 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/circulars?id=68202