Reserve Bank of India ., In re
Date: July 31, 2024
Subject Matter
Penalties levied by RBI for statutory violations and contractual non-performance are NOT taxable under GST
Summary
The case law revolves around the Reserve Bank of India's (RBI) treatment of penalties, late fees, and fines levied for violations of statutory and contractual obligations under Goods and Services Tax (GST). - Background : RBI, as a statutor…
FULL TEXT OF THE ORDER OF AUTHORITY FOR ADVANCE RULING, MAHARASHTRA (Under Section 98 of the Central Goods and Services Tax Act, 2017 and the Maharashtra Goods and Services Tax Act, 2017) The present application has been filed under Section 97 of the Central Goods and Services Tax Act, 2017 and the Maharashtra Goods and Services Tax Act, 2017 [hereinafter referred to as “the CGST Act and MGS…