We are pleased to release our GST newsflash, highlighting certain clarifications provided by the Central Government in relation to Banking Sector, as under:

·       Clarifications on time of supply and place of supply in different scenarios.

·       Clarifications on Certain Input Tax credit related provisions and rules thereto in different situations.

·       Clarifications on applicability of GST on Interest charged for delayed payment of EMI.

·       Clarifications on applicability of GST on Finance Lease.

·       Clarifications on certain other procedural aspects in relation to the said sector.

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