No GST on Services by the Reserve Bank of India

Posted on 11 April 2023 Category : GST exemptions

The Reserve Bank of India Services attracts no GST

Is GST payable on the Reserve Bank of India services? Is GST exempted on Services by the Reserve Bank of India? No GST applicable for Services by the Reserve Bank of India?

As per GST Law 2017, there is no GST payable on Services by the Reserve Bank of India.

So the rate of GST payable on Reserve Bank of India services is nil rate.

Four main GST rate slabs framed with Essential goods and services, Standard goods and services and luxury goods and services with 5%, 12%, 18% and 28% respectively. 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.

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The above details about GST rate tariff on Services by the Reserve Bank of India is only for information.

The validity of above information and amendments about GST rate on Reserve Bank of India services may be verified before any business dealing.

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