GST Clarifications: Loan Penalties, Payment Aggregators, R&D Services, and Multiple Sector Guidelines
Circulars
GST – States
Clarifications on several tax-related matters including: (1) no GST is payable on penal charges levied by Regulated Entities for loan contract non-compliance; (2) GST exemption is available to RBI-regulated Payment Aggregators for settlement of transactions up to 2,000; (3) regularization of GST payment for research and development services provided by Government
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