GST on Financial Services

GST on Financial Services
SAC CodeDescription of ServicesRate (%)CESS (%)Effective DateRate Revision
9971Financial And Related Services12/18Nil Provided that Director (Sports), Ministry of Youth Affairs and Sports certifies that the services are directly or indirectly related to any of the events under FIFA U-17 Women’s World Cup 2020. Provided that credit of input tax charged on goods used in supplying the service has not been taken [Please refer to Explanation no. (iv)]1/01/2019 13/10/2017 1/07/201712% 18% 18% 12%
997111Central Banking Services12/18Nil Provided that Director (Sports), Ministry of Youth Affairs and Sports certifies that the services are directly or indirectly related to any of the events under FIFA U-17 Women’s World Cup 2020. Provided that credit of input tax charged on goods used in supplying the service has not been taken [Please refer to Explanation no. (iv)]1/01/2019 13/10/2017 1/07/201712% 18% 18% 12%
997112Deposit Services12/18Nil Provided that Director (Sports), Ministry of Youth Affairs and Sports certifies that the services are directly or indirectly related to any of the events under FIFA U-17 Women’s World Cup 2020. Provided that credit of input tax charged on goods used in supplying the service has not been taken [Please refer to Explanation no. (iv)]1/01/2019 13/10/2017 1/07/201712% 18% 18% 12%
997113Credit-Granting Services Including Stand-By Commitment, Guarantees & Securities12/18Nil Provided that Director (Sports), Ministry of Youth Affairs and Sports certifies that the services are directly or indirectly related to any of the events under FIFA U-17 Women’s World Cup 2020. Provided that credit of input tax charged on goods used in supplying the service has not been taken [Please refer to Explanation no. (iv)]1/01/2019 13/10/2017 1/07/201712% 18% 18% 12%
997114Financial Leasing Services12/18Nil Provided that Director (Sports), Ministry of Youth Affairs and Sports certifies that the services are directly or indirectly related to any of the events under FIFA U-17 Women’s World Cup 2020. Provided that credit of input tax charged on goods used in supplying the service has not been taken [Please refer to Explanation no. (iv)]1/01/2019 13/10/2017 1/07/201712% 18% 18% 12%
997119Other Financial Services (Except Investment Banking, Insurance Services And Pension Services)12/18Nil Provided that Director (Sports), Ministry of Youth Affairs and Sports certifies that the services are directly or indirectly related to any of the events under FIFA U-17 Women’s World Cup 2020. Provided that credit of input tax charged on goods used in supplying the service has not been taken [Please refer to Explanation no. (iv)]1/01/2019 13/10/2017 1/07/201712% 18% 18% 12%
997120Investment Banking Services12/18Nil Provided that Director (Sports), Ministry of Youth Affairs and Sports certifies that the services are directly or indirectly related to any of the events under FIFA U-17 Women’s World Cup 2020. Provided that credit of input tax charged on goods used in supplying the service has not been taken [Please refer to Explanation no. (iv)]1/01/2019 13/10/2017 1/07/201712% 18% 18% 12%
997131Pension Services12/18Nil Provided that Director (Sports), Ministry of Youth Affairs and Sports certifies that the services are directly or indirectly related to any of the events under FIFA U-17 Women’s World Cup 2020. Provided that credit of input tax charged on goods used in supplying the service has not been taken [Please refer to Explanation no. (iv)]1/01/2019 13/10/2017 1/07/201712% 18% 18% 12%
997132Life Insurance Services (Excluding Reinsurance Services)12/18Nil Provided that Director (Sports), Ministry of Youth Affairs and Sports certifies that the services are directly or indirectly related to any of the events under FIFA U-17 Women’s World Cup 2020. Provided that credit of input tax charged on goods used in supplying the service has not been taken [Please refer to Explanation no. (iv)]1/01/2019 13/10/2017 1/07/201712% 18% 18% 12%
997133Accident And Health Insurance Services12/18Nil Provided that Director (Sports), Ministry of Youth Affairs and Sports certifies that the services are directly or indirectly related to any of the events under FIFA U-17 Women’s World Cup 2020. Provided that credit of input tax charged on goods used in supplying the service has not been taken [Please refer to Explanation no. (iv)]1/01/2019 13/10/2017 1/07/201712% 18% 18% 12%
997134Motor Vehicle Insurance Services12/18Nil Provided that Director (Sports), Ministry of Youth Affairs and Sports certifies that the services are directly or indirectly related to any of the events under FIFA U-17 Women’s World Cup 2020. Provided that credit of input tax charged on goods used in supplying the service has not been taken [Please refer to Explanation no. (iv)]1/01/2019 13/10/2017 1/07/201712% 18% 18% 12%
997135Marine, Aviation, And Other Transport Insurance Services12/18Nil Provided that Director (Sports), Ministry of Youth Affairs and Sports certifies that the services are directly or indirectly related to any of the events under FIFA U-17 Women’s World Cup 2020. Provided that credit of input tax charged on goods used in supplying the service has not been taken [Please refer to Explanation no. (iv)]1/01/2019 13/10/2017 1/07/201712% 18% 18% 12%
997136Freight Insurance Services & Travel Insurance Services12/18Nil Provided that Director (Sports), Ministry of Youth Affairs and Sports certifies that the services are directly or indirectly related to any of the events under FIFA U-17 Women’s World Cup 2020. Provided that credit of input tax charged on goods used in supplying the service has not been taken [Please refer to Explanation no. (iv)]1/01/2019 13/10/2017 1/07/201712% 18% 18% 12%
997137Other Property Insurance Services12/18Nil Provided that Director (Sports), Ministry of Youth Affairs and Sports certifies that the services are directly or indirectly related to any of the events under FIFA U-17 Women’s World Cup 2020. Provided that credit of input tax charged on goods used in supplying the service has not been taken [Please refer to Explanation no. (iv)]1/01/2019 13/10/2017 1/07/201712% 18% 18% 12%
997139Other Non-Life Insurance Services (Excluding Reinsurance Services)12/18Nil Provided that Director (Sports), Ministry of Youth Affairs and Sports certifies that the services are directly or indirectly related to any of the events under FIFA U-17 Women’s World Cup 2020. Provided that credit of input tax charged on goods used in supplying the service has not been taken [Please refer to Explanation no. (iv)]1/01/2019 13/10/2017 1/07/201712% 18% 18% 12%
997141Life Reinsurance Services12/18Nil Provided that Director (Sports), Ministry of Youth Affairs and Sports certifies that the services are directly or indirectly related to any of the events under FIFA U-17 Women’s World Cup 2020. Provided that credit of input tax charged on goods used in supplying the service has not been taken [Please refer to Explanation no. (iv)]1/01/2019 13/10/2017 1/07/201712% 18% 18% 12%
997142Accident And Health Reinsurance Services12/18Nil Provided that Director (Sports), Ministry of Youth Affairs and Sports certifies that the services are directly or indirectly related to any of the events under FIFA U-17 Women’s World Cup 2020. Provided that credit of input tax charged on goods used in supplying the service has not been taken [Please refer to Explanation no. (iv)]1/01/2019 13/10/2017 1/07/201712% 18% 18% 12%
997143Motor Vehicle Reinsurance Services12/18Nil Provided that Director (Sports), Ministry of Youth Affairs and Sports certifies that the services are directly or indirectly related to any of the events under FIFA U-17 Women’s World Cup 2020. Provided that credit of input tax charged on goods used in supplying the service has not been taken [Please refer to Explanation no. (iv)]1/01/2019 13/10/2017 1/07/201712% 18% 18% 12%
997144Marine, Aviation And Other Transport Reinsurance Ser12/18Nil Provided that Director (Sports), Ministry of Youth Affairs and Sports certifies that the services are directly or indirectly related to any of the events under FIFA U-17 Women’s World Cup 2020. Provided that credit of input tax charged on goods used in supplying the service has not been taken [Please refer to Explanation no. (iv)]1/01/2019 13/10/2017 1/07/201712% 18% 18% 12%
997145Services12/18Nil Provided that Director (Sports), Ministry of Youth Affairs and Sports certifies that the services are directly or indirectly related to any of the events under FIFA U-17 Women’s World Cup 2020. Provided that credit of input tax charged on goods used in supplying the service has not been taken [Please refer to Explanation no. (iv)]1/01/2019 13/10/2017 1/07/201712% 18% 18% 12%
997146Freight Reinsurance Services12/18Nil Provided that Director (Sports), Ministry of Youth Affairs and Sports certifies that the services are directly or indirectly related to any of the events under FIFA U-17 Women’s World Cup 2020. Provided that credit of input tax charged on goods used in supplying the service has not been taken [Please refer to Explanation no. (iv)]1/01/2019 13/10/2017 1/07/201712% 18% 18% 12%
997147Other Property Reinsurance Services12/18Nil Provided that Director (Sports), Ministry of Youth Affairs and Sports certifies that the services are directly or indirectly related to any of the events under FIFA U-17 Women’s World Cup 2020. Provided that credit of input tax charged on goods used in supplying the service has not been taken [Please refer to Explanation no. (iv)]1/01/2019 13/10/2017 1/07/201712% 18% 18% 12%
997149Other Non-Life Reinsurance Services12/18Nil Provided that Director (Sports), Ministry of Youth Affairs and Sports certifies that the services are directly or indirectly related to any of the events under FIFA U-17 Women’s World Cup 2020. Provided that credit of input tax charged on goods used in supplying the service has not been taken [Please refer to Explanation no. (iv)]1/01/2019 13/10/2017 1/07/201712% 18% 18% 12%
997151Services Related To Investment Banking Such As Mergers & Acquisition Services, Corporate Finance & Venture Capital Services12/18Nil Provided that Director (Sports), Ministry of Youth Affairs and Sports certifies that the services are directly or indirectly related to any of the events under FIFA U-17 Women’s World Cup 2020. Provided that credit of input tax charged on goods used in supplying the service has not been taken [Please refer to Explanation no. (iv)]1/01/2019 13/10/2017 1/07/201712% 18% 18% 12%
997152Brokerage And Related Securities And Commodities Services Including Commodity Exchange Services12/18Nil Provided that Director (Sports), Ministry of Youth Affairs and Sports certifies that the services are directly or indirectly related to any of the events under FIFA U-17 Women’s World Cup 2020. Provided that credit of input tax charged on goods used in supplying the service has not been taken [Please refer to Explanation no. (iv)]1/01/2019 13/10/2017 1/07/201712% 18% 18% 12%
997153Portfolio Management Services Except Pension Funds12/18Nil Provided that Director (Sports), Ministry of Youth Affairs and Sports certifies that the services are directly or indirectly related to any of the events under FIFA U-17 Women’s World Cup 2020. Provided that credit of input tax charged on goods used in supplying the service has not been taken [Please refer to Explanation no. (iv)]1/01/2019 13/10/2017 1/07/201712% 18% 18% 12%
997154Trust And Custody Services12/18Nil Provided that Director (Sports), Ministry of Youth Affairs and Sports certifies that the services are directly or indirectly related to any of the events under FIFA U-17 Women’s World Cup 2020. Provided that credit of input tax charged on goods used in supplying the service has not been taken [Please refer to Explanation no. (iv)]1/01/2019 13/10/2017 1/07/201712% 18% 18% 12%
997155Services Related To The Administration Of Financial Markets12/18Nil Provided that Director (Sports), Ministry of Youth Affairs and Sports certifies that the services are directly or indirectly related to any of the events under FIFA U-17 Women’s World Cup 2020. Provided that credit of input tax charged on goods used in supplying the service has not been taken [Please refer to Explanation no. (iv)]1/01/2019 13/10/2017 1/07/201712% 18% 18% 12%
997156Financial Consultancy Services12/18Nil Provided that Director (Sports), Ministry of Youth Affairs and Sports certifies that the services are directly or indirectly related to any of the events under FIFA U-17 Women’s World Cup 2020. Provided that credit of input tax charged on goods used in supplying the service has not been taken [Please refer to Explanation no. (iv)]1/01/2019 13/10/2017 1/07/201712% 18% 18% 12%
997157Foreign Exchange Services12/18Nil Provided that Director (Sports), Ministry of Youth Affairs and Sports certifies that the services are directly or indirectly related to any of the events under FIFA U-17 Women’s World Cup 2020. Provided that credit of input tax charged on goods used in supplying the service has not been taken [Please refer to Explanation no. (iv)]1/01/2019 13/10/2017 1/07/201712% 18% 18% 12%
997158Financial Transactions Processing And Clearing House Services12/18Nil Provided that Director (Sports), Ministry of Youth Affairs and Sports certifies that the services are directly or indirectly related to any of the events under FIFA U-17 Women’s World Cup 2020. Provided that credit of input tax charged on goods used in supplying the service has not been taken [Please refer to Explanation no. (iv)]1/01/2019 13/10/2017 1/07/201712% 18% 18% 12%
997159Other Services Auxiliary To Financial Services12/18Nil Provided that Director (Sports), Ministry of Youth Affairs and Sports certifies that the services are directly or indirectly related to any of the events under FIFA U-17 Women’s World Cup 2020. Provided that credit of input tax charged on goods used in supplying the service has not been taken [Please refer to Explanation no. (iv)]1/01/2019 13/10/2017 1/07/201712% 18% 18% 12%
997161Insurance Brokerage And Agency Services12/18Nil Provided that Director (Sports), Ministry of Youth Affairs and Sports certifies that the services are directly or indirectly related to any of the events under FIFA U-17 Women’s World Cup 2020. Provided that credit of input tax charged on goods used in supplying the service has not been taken [Please refer to Explanation no. (iv)]1/01/2019 13/10/2017 1/07/201712% 18% 18% 12%
997162Insurance Claims Adjustment Services12/18Nil Provided that Director (Sports), Ministry of Youth Affairs and Sports certifies that the services are directly or indirectly related to any of the events under FIFA U-17 Women’s World Cup 2020. Provided that credit of input tax charged on goods used in supplying the service has not been taken [Please refer to Explanation no. (iv)]1/01/2019 13/10/2017 1/07/201712% 18% 18% 12%
997163Actuarial Services12/18Nil Provided that Director (Sports), Ministry of Youth Affairs and Sports certifies that the services are directly or indirectly related to any of the events under FIFA U-17 Women’s World Cup 2020. Provided that credit of input tax charged on goods used in supplying the service has not been taken [Please refer to Explanation no. (iv)]1/01/2019 13/10/2017 1/07/201712% 18% 18% 12%
997164Pension Fund Management Services12/18Nil Provided that Director (Sports), Ministry of Youth Affairs and Sports certifies that the services are directly or indirectly related to any of the events under FIFA U-17 Women’s World Cup 2020. Provided that credit of input tax charged on goods used in supplying the service has not been taken [Please refer to Explanation no. (iv)]1/01/2019 13/10/2017 1/07/201712% 18% 18% 12%
997169Other Services Auxiliary To Insurance And Pensions12/18Nil Provided that Director (Sports), Ministry of Youth Affairs and Sports certifies that the services are directly or indirectly related to any of the events under FIFA U-17 Women’s World Cup 2020. Provided that credit of input tax charged on goods used in supplying the service has not been taken [Please refer to Explanation no. (iv)]1/01/2019 13/10/2017 1/07/201712% 18% 18% 12%
997171Services Of Holding Equity Of Subsidiary Companies12/18Nil Provided that Director (Sports), Ministry of Youth Affairs and Sports certifies that the services are directly or indirectly related to any of the events under FIFA U-17 Women’s World Cup 2020. Provided that credit of input tax charged on goods used in supplying the service has not been taken [Please refer to Explanation no. (iv)]1/01/2019 13/10/2017 1/07/201712% 18% 18% 12%
997172Services Of Holding Securities And Other Assets Of Trusts And Funds And Similar Financial Entities12/18Nil Provided that Director (Sports), Ministry of Youth Affairs and Sports certifies that the services are directly or indirectly related to any of the events under FIFA U-17 Women’s World Cup 2020. Provided that credit of input tax charged on goods used in supplying the service has not been taken [Please refer to Explanation no. (iv)]1/01/2019 13/10/2017 1/07/201712% 18% 18% 12%
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Advocate Shruti Goyal Advocate
Advocate Shruti Goyal is a legal expert specializing in corporate law and compliance. She writes to simplify legal topics for businesses and individuals alike.