GST Council Exempts Loan Penalty Charges, Payment Aggregator Settlements Under 2000, and Training by NSDC Partners

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....CBIC clarified multiple GST applicability issues based on 55th GST Council recommendations. Key determinations: No GST payable on penal charges levied by regulated entities for loan contract breaches. GST exemption extended to RBI-regulated Payment Aggregators for settlements up to 2000 per transaction. Research and development services by Government Entities against grants regularized for period July 2017-October 2024. DDA not classified as local authority under GST law. GST applicable on facility management services to MCD headquarters. Training services by NSDC-approved partners exempted from January 2025, with past period regularized. Goethe Institute services' GST payments regularized for July 2017-March 2023 period.....