CBIC notifies New Exemptions and RCM on Services decided in 49th GST Council Meeting [Read Notification]:

CBIC notifies New Exemptions and RCM on Services decided in 49th GST Council Meeting [Read Notification] The Central Board of Indirect Taxes and Customs(CBIC) has notifies New Exemptions and RCM on Services decided in 49th GST Council Meeting via issuing Notification, which will be effective from 1st March, 2023.

GST Exemptions:

It has been decided to extend the exemption available to educational institutions and Central and State educational boards for conduct of entrance examination to any authority, board or a body set up by the Central Government or State Government including National Testing Agency for conduct of entrance examination for admission to educational institutions.

GST reverse charge mechanism (RCM):

It has been decided to extend the dispensation available to Central Government, State Governments, Parliament and State Legislatures with regard to payment of GST under reverse charge mechanism (RCM) to the Courts and Tribunals also in respect of taxable services supplied by them such as renting of premises to telecommunication companies for installation of towers, renting of chamber to lawyers etc. The notifications shall come into force on the 1st day of March 2023. For Official Notifications Download PDF Given Below: