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

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..... ability of GST on Asian Development Bank (ADB) and International Finance Corporation (IFC). Representations have been received seeking clarification regarding applicability of GST on Asian Development Bank (ADB) and International Finance Corporation (IFC). The matter has been examined. 2. The ADB Act, 1966 provides that notwithstanding anything to the contrary contained in any other law, the Ba .....

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..... poration 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. has held that when the enactments that honour international agreements specifically immunize the operation .....

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..... he implementation of this Circular may be brought to the notice of the undersigned. (Dipak M. Bandekar) Commissioner of State Tax Note: Similar circular is issued under Central Goods and Services Tax Act, 2017 by the Tax Research Unit, Department of Revenue, Ministry of Finance, GOI, New Delhi vide Circular No. 83/02/2019-GST dated 01/01/2019.
Circular, Trade Notice, Public Notice, Instruc .....

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