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TMI BlogClarifications regarding GST in respect of certain servicesX X X X Extracts X X X X X X X X Extracts X X X X ..... issioners/ Chief Commissioners/ Principal Commissioners/ Commissioner of Central Tax (All) / The Principal Director Generals/ Director Generals (All) Madam/Sir, Subject: Clarifications regarding GST in respect of certain services I am directed to issue clarification with regard to the following issues as approved by the Fitment Committee to the GST Council in its meeting held on 9th, 10 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... illary supply. Which part of a composite supply is the principal supply, must be determined keeping in view the nature of the supply involved. Value may be one of the guiding factors in this determination, but not the sole factor. The primary question that should be asked is what is the essential nature of the composite supply and which element of the supply imparts that essential nature to the co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nishment license, which attracted VAT. In GST there is no exemption to trading in PSLCs. Thus, PSLCs are taxable as goods at standard rate of 18% under the residuary S. No. 453 of Schedule III of notification No. 1/2017-Central Tax(Rate) . GST payable on the certificates would be available as ITC to the bank buying the certificates. 4. (1) Whether the a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... licate bill; provided by DISCOMS to consumer are taxable. (2) The service provided by Central Government/State Government to any business entity including PSUs by way of guaranteeing the loans taken by them from financial institutions against consideration in any form including Guarantee Commission is taxable. 2. Difficulty if any, in the implementation of this circula ..... X X X X Extracts X X X X X X X X Extracts X X X X
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