Clarifications issued regarding applicability of GST on certain ...

GST Clarifications: Railway, Real Estate, and Banking Exemptions; Reinsurance and Accommodation Tax Updates.

July 18, 2024

Circulars GST

Clarifications issued regarding applicability of GST on certain services including exemption for Ministry of Railways (Indian Railways) supplies to public and inter-zone/division supplies; exemption for transactions between Special Purpose Vehicles (SPVs) and Ministry of Railways; statutory collections by Real Estate Regulatory Authority (RERA) covered under GST exemption; incentive amount shared by acquiring banks with stakeholders under RuPay/UPI promotion scheme treated as subsidy and not taxable; reinsurance of specified general/life insurance schemes regularized for 01.07.2017 to 24.01.2018; reinsurance of government-sponsored insurance schemes regularized for 01.07.2017 to 26.07.2018; retrocession services included in 'reinsurance'; accommodation services with value up to Rs. 20,000 per person per month for minimum 90 days exempted from 15.07.2024 and regularized for 01.07.2017 to 14.07.2024.

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Clarifications issued regarding applicability of GST on certain ...

GST Clarifications: Railway, Real Estate, and Banking Exemptions; Reinsurance and Accommodation Tax Updates.

July 18, 2024

Circulars GST

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