Applicability of GST on Asian Development Bank (ADB) and International Finance Corporation (IFC)

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....lhi, Dated the 1st January, 2019 To, The Principal Chief Commissioners/ Chief Commissioners/ Principal Commissioners/ Commissioner of Central Tax (All) / The Principal Director Generals/ Director Generals (All) Madam/Sir, Subject: Applicability of GST on Asian Development Bank (ADB) and International Finance Corporation (IFC) - reg. Representations have been received seeking c....

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....rovides that notwithstanding anything to the contrary contained in any other law, the Corporation, its assets, properties, income and its operations and transactions authorised by the Agreement, shall be immune from all taxation and from all customs duties. The Corporation shall also be immune from liability for the collection or payment of any tax or duty [Section 3 (1) of IFC Act, 1958 read with....