Exemption of GST on Services by Business Facilitators or Correspondents in Rural Areas Specified in Circular No. 86/05/2019-GST.

Services provided by business facilitators or business correspondents to banking or insurance companies in rural areas are exempt from GST under specified headings. This includes services related to rural branch accounts and intermediary services. Definitions clarify terms such as "banking company," "business facilitator or correspondent," "insurance company," and "rural area." Clarifications are provided on the valuation for GST purposes and the scope of exempt services, as outlined in Circular No. 86/05/2019-GST dated January 1, 2019.