GST Exemption for Services Between SPVs and Ministry of Railways under Chapter 99, Effective July 15, 2024
Chapter 99 outlines a GST exemption for services exchanged between Special Purpose Vehicles (SPVs) and the Ministry of Railways (Indian Railways). The exemption applies to the use of infrastructure built and owned by SPVs during the concession period, in exchange for consideration. Additionally, it covers maintenance services provided by the Ministry of Railways to SPVs for the same infrastructure. This exemption is clarified in Circular No. 228/22/2024-GST, effective from July 15, 2024, as per notification no. 04/2024 Integrated Tax (Rate) dated July 12, 2024.