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GST rate for Non banking financial services
whether Non Banking Financial corporations are covered under gst regime, if yes, what is the gst rate and other guidelines for the same ?
Replies (1)
Yes GST applicable on services of Non Banking financial c
As per Section 17(4) Bank & NBFC can avail 50% ITC on their on inputs & Input services as well as on capital goods.
& 2nd proviso to section 17(4) the restriction of 50% is not apply .to tax paid on supplies made by one registered person to another registered person having same PAN
As per Section 17(4) Bank & NBFC can avail 50% ITC on their on inputs & Input services as well as on capital goods.
& 2nd proviso to section 17(4) the restriction of 50% is not apply .to tax paid on supplies made by one registered person to another registered person having same PAN
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