Services by the business facilitator or a business correspondent to a banking company attracts no GST
Is GST payable on Services by the business facilitator or a business correspondent to a banking company with respect to accounts in its rural area branch? Is GST exempted on Services by the business facilitator or a business correspondent to a banking company with respect to accounts in its rural area branch? No GST applicable for Services by the business facilitator or a business correspondent to a banking company with respect to accounts in its rural area branch?
As per GST Law 2017, there is no GST payable on Services by the business facilitator or a business correspondent to a banking company with respect to accounts in its rural area branch.
So the rate of GST payable on Services by the business facilitator or a business correspondent to a banking company with respect to accounts in its rural area branch is nil rate.
There are six GST tax slabs – 0, 5, 12, 18, 28, and 28 percent plus cess. Commonly used Goods and Services at 5%, Standard Goods and Services fall under 1st slab at 12%, Standard Goods and Services fall under 2nd Slab at 18% and Special category of Goods and Services including luxury - 28%. The most essential goods and services attract nil rate of GST under Exempted Categories. Luxury goods and services and certain specific goods and services attract additional cess than 28% GST.
This information is about GST on Services by the business facilitator or a business correspondent to a banking company with respect to accounts in its rural area branch. Would you like to add more information about GST rate tariff on Services by the business facilitator or a business correspondent to a banking company with respect to accounts in its rural area branch? Share below your comments about Goods and Service Tax levied on Services by the business facilitator or a business correspondent to a banking company with respect to accounts in its rural area branch.
The above details about GST rate tariff on Services by the business facilitator or a business correspondent to a banking company with respect to accounts in its rural area branch is only for information.
The validity of above information and amendments about GST rate on Services by the business facilitator or a business correspondent to a banking company with respect to accounts in its rural area branch may be verified before any business dealing.
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