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

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..... ers/ Joint Commissioners/Deputy Commissioners/ Assistant Commissioner/State Tax Officers/ State Tax, Chhattisgarh (All) …………………………………………. Subject: Applicability of GST on Asian Development Bank (ADB) and International Finance Corporation (IFC) - reg. Representations have be .....

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..... Act, 1958 also provides 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 Ac .....

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..... rvices provided by IFC and ADB are exempt from GST in terms of provisions of IFC Act, 1958 and ADB Act. The exemption will be available only to the services provided by ADB and IFC and not to any entity appointed by or working on behalf of ADB or IFC. 5. Difficulty if any, in the implementation of the above instructions may please be brought to the notice of this office. (Sangeetha P.) Commis .....

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