Financial service intermediaries in SEZs with IFSC status exempt from GST on foreign currency transactions.

Services provided by intermediaries of financial services located in a multi-services Special Economic Zone (SEZ) with International Financial Services Centre (IFSC) status to customers outside India are exempt from Goods and Services Tax (GST), including CGST, UTGST, SGST, and IGST, when these services are in currencies other than Indian Rupees. The intermediary must be recognized by the Government of India, a relevant regulator, or registered under specific guidelines by the Insurance Regulatory and Development Authority of India or the Securities and Exchange Board of India, as outlined in the relevant regulations and guidelines.