Applicability of GST on Asian Development Bank (ADB) and International Finance Corporation (IFC)

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..... CIRCULAR Subject: Applicability of GST on Asian Development Bank (ADB) and International Finance Corporation (IFC) - reg. Representations have been received seeking clarification regarding applicability of GST on Asian Development Bank (ADB) and International Finance Corporation (IFC). The matter has been examined. 1. The ADB Act, 1966 provides that notwithstandi .....

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..... all be immune from all taxation and from all customs duties. The Corporation shall also be immune from liability for the collection or payment of any tax or duty [Section 3 (1) of IFC Act, 1958 read with Article VI, Section 9 (a) of the Schedule thereto refers]. 3. CESTAT Mumbai vide final order dated 17-10-2016 in the case of M/s Coastal Gujarat Power Ltd. has held that when the enactmen .....

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..... tity appointed by or working on behalf of ADB or IFC. Dipa Basnet Secretary Commercial Taxes Division Finance, Revenue Expenditure Deptt. FILE NO.GOS/CTD/2009-2010/16-1C (9) VOL-II - Circular - Trade Notice - Public Notice - Instructions - Office orders Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com .....

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