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GST rate for Non banking financial services

19 July 2019

whether Non Banking Financial corporations are covered under gst regime, if yes, what is the gst rate and other guidelines for the same ?

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Pankaj Rawat (GST Practitioner) (55047 Points)
Replied 20 July 2019

Yes GST applicable on services of Non Banking financial c

As per Section 17(4) Bank & NBFC can avail 50% ITC on their on inputs & Input services as well as on capital goods.
& 2nd proviso to section 17(4) the restriction of 50% is not apply .to tax paid on supplies made by one registered person to another registered person having same PAN

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