Intermediary financial services exemption: GST relief where IFSC SEZ intermediaries supply international financial services in foreign currency. Services by an intermediary of financial services located in a multi services SEZ with IFSC status to a customer located outside India for international financial services, where consideration is in currencies other than Indian rupees, are exempt from GST. An intermediary of financial services in IFSC is defined by four alternative criteria: recognition/permission by the Government or IFSC regulator; treatment as non resident under the relevant FEMA regulation; registration as an IFSC Insurance Office under IRDAI guidelines; or permission by SEBI under its IFSC guidelines.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Intermediary financial services exemption: GST relief where IFSC SEZ intermediaries supply international financial services in foreign currency.
Services by an intermediary of financial services located in a multi services SEZ with IFSC status to a customer located outside India for international financial services, where consideration is in currencies other than Indian rupees, are exempt from GST. An intermediary of financial services in IFSC is defined by four alternative criteria: recognition/permission by the Government or IFSC regulator; treatment as non resident under the relevant FEMA regulation; registration as an IFSC Insurance Office under IRDAI guidelines; or permission by SEBI under its IFSC guidelines.
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