<?xml version="1.0" encoding="UTF-8"?>
<?xml-stylesheet type="text/xsl" href="https://www.taxtmi.com/rss_sitemap/rss_feed_blog.xsl?v=1750492856"?>
<rss version="2.0" xmlns:atom="http://www.w3.org/2005/Atom">
  <channel>
    <title>Goa adopts Finance Ministry&#039;s Circular 245 clarifying GST exemptions for loan penalties and payment aggregators</title>
    <link>https://www.taxtmi.com/highlights?id=86688</link>
    <description>The Goa Commissioner of State Taxes has adopted Circular No. 245/02/2025-GST issued by the Ministry of Finance for uniform implementation under the Goa GST Act. The circular provides several key clarifications: penal charges levied by regulated entities for loan contract non-compliance are exempt from GST; RBI-regulated Payment Aggregators qualify for GST exemption on settlement transactions up to 2,000; GST payments are regularized for certain research services by Government Entities (July 2017-October 2024) and for skilling services by NSDC-approved Training Partners (October 2024-January 2025). Additionally, facility management services to MCD are confirmed as taxable, DDA is clarified not to be a local authority under GST law, and certain electricity utility support services are regularized.</description>
    <language>en-us</language>
    <pubDate>Thu, 20 Mar 2025 18:37:16 +0530</pubDate>
    <lastBuildDate>Thu, 20 Mar 2025 18:37:16 +0530</lastBuildDate>
    <generator>TaxTMI RSS Generator</generator>
    <atom:link href="https://www.taxtmi.com/rss_feed_blog?id=807802" rel="self" type="application/rss+xml"/>
    <item>
      <title>Goa adopts Finance Ministry&#039;s Circular 245 clarifying GST exemptions for loan penalties and payment aggregators</title>
      <link>https://www.taxtmi.com/highlights?id=86688</link>
      <description>The Goa Commissioner of State Taxes has adopted Circular No. 245/02/2025-GST issued by the Ministry of Finance for uniform implementation under the Goa GST Act. The circular provides several key clarifications: penal charges levied by regulated entities for loan contract non-compliance are exempt from GST; RBI-regulated Payment Aggregators qualify for GST exemption on settlement transactions up to 2,000; GST payments are regularized for certain research services by Government Entities (July 2017-October 2024) and for skilling services by NSDC-approved Training Partners (October 2024-January 2025). Additionally, facility management services to MCD are confirmed as taxable, DDA is clarified not to be a local authority under GST law, and certain electricity utility support services are regularized.</description>
      <category>Highlights</category>
      <law>GST - States</law>
      <pubDate>Thu, 20 Mar 2025 18:37:16 +0530</pubDate>
      <guid isPermaLink="true">https://www.taxtmi.com/highlights?id=86688</guid>
    </item>
  </channel>
</rss>