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

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..... GST on Asian Development Bank (ADB) and International Finance Corporation (IFC) - reg. No. CT/GST-15/2017/288 .- Certain representations have been received seeking clarification as regards applicability of GST on Asian Development Bank (ADB) and International Finance Corporation (IFC). 2. The matter has been examined. ADB Act, 1966 provides that notwithstanding anything to the contrary co .....

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..... 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 Article VI, Section 9 (a) of the Schedule thereto refers]. 3. CESTAT Mumbai vide final order dated 17-10-2016 in the case of M/s. Coastal Gujarat Power Ltd. = 2016 (12) TMI 229 - CESTAT MUMBAI has held that when the enactm .....

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..... y appointed by or working on behalf of ADB or IFC. 5. This Circular is clarificatory in nature and not meant for any interpretation of provisions of the Act and rules. 6. Difficulties, if any, in implementation of the above instructions may be brought to the notice of the Commissioner at an early date. 7. This Circular shall be deemed to have come into force with effect from the 1st Janua .....

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