GST exemption revoked for leasing of rolling stock by a finance corporation to railways, altering tax treatment. An existing exemption from GST for leasing of rolling stock assets (wagons, coaches, locos) by a finance corporation to the national railway was omitted by notification, thereby removing the prior tax relief and altering the tax treatment of that specified leasing service under GST.
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GST exemption revoked for leasing of rolling stock by a finance corporation to railways, altering tax treatment.
An existing exemption from GST for leasing of rolling stock assets (wagons, coaches, locos) by a finance corporation to the national railway was omitted by notification, thereby removing the prior tax relief and altering the tax treatment of that specified leasing service under GST.
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