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TMI BlogGST on Services of Business Facilitator (BF) or a Business Correspondent (BC) to Banking Company.X X X X Extracts X X X X X X X X Extracts X X X X ..... e, Central Zone, H.P. 2. The Joint Commissioner of State Taxes and Excise, Central Zone, North Zone, Flying Squad, NZ/ SZ/ CZ. 3. The Dy. Commissioner of State Taxes and Excise, Shimla, Solan, BBN Baddi, Sirmour, Bilaspur, Hamirpur, Mandi. Kullu, Chamba, Kangra, Revenue Distt Nurpur and Una, H.P 4. The Asstt. Commissioner of State Taxes and Excise, Incharge Distt. Kinnour, H.P Dated Shiml ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... BF/BC to a banking company: As per RBI's Circular No. DBOD. No. BL.BC. 58/22.01.001/2005-2006 dated 25.01.2006 and subsequent instructions on the issue (referred to as 'guidelines' hereinafter), banks may pay reasonable commission/fee to the BC, the rate and quantum of which may be reviewed periodically. The agreement of banks with the BC specifically prohibits them from directly charging any fee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... anking company is liable to pay GST on the entire value of service charge or fee charged to customers whether or not received via business facilitator or the business correspondent. 3. Issue 2: Clarification on the scope of services by BF/BC to a banking company with respect to accounts in rural areas: It has also been requested that the scope of exemption to services provided in relation to "acc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ation of branch of a bank as located in rural area and services which can be given by BF/BC, is governed by the RBI guidelines. Therefore, classification adopted by the bank in terms of RBI guidelines in this regard should be accepted. 4. Difficulty, if any, in the implementation of this Circular may be brought to the notice of this office immediately. (Rajeev Sharma, IAS) Commissioner of State ..... X X X X Extracts X X X X X X X X Extracts X X X X
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