Services provided to RBI other than foreign exchange reserve management from outside India is exempt or taxable?\r\n
Main Category: GST |Sub Category: Others |Reply Count: 1 |
Replies:-
BMC Associates says Replied on 22nd August,2026 04:14 AM
The service is taxable, unless it specifically falls under the limited exemption for services received by the Reserve Bank of India (RBI) from a provider located outside India in relation to the management of foreign exchange reserves.
CBIC’s exemption entry specifically covers services received by RBI from outside India in relation to management of foreign exchange reserves.
Therefore:
Service provided from outside India to RBI for management of foreign exchange reserves → Exempt.
Other services provided to RBI from outside India → Generally taxable, subject to the normal import-of-services and place-of-supply provisions.
Services provided by banks to RBI are also specifically clarified by CBIC as taxable, since they are not covered by the exemption.
So, if the question specifically says “services provided to RBI other than foreign exchange reserve management”, the answer is taxable.
For GST and international taxation guidance, businesses can consult experienced chartered accountant firms in gurgaon, a qualified chartered accountant gurgaon, a reliable ca firm in gurgaon, or a professional ca in gurgaon.
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BMC Associates says Replied on 22nd August,2026 04:14 AM
The service is taxable, unless it specifically falls under the limited exemption for services received by the Reserve Bank of India (RBI) from a provider located outside India in relation to the management of foreign exchange reserves. CBIC’s exemption entry specifically covers services received by RBI from outside India in relation to management of foreign exchange reserves. Therefore: Service provided from outside India to RBI for management of foreign exchange reserves → Exempt. Other services provided to RBI from outside India → Generally taxable, subject to the normal import-of-services and place-of-supply provisions. Services provided by banks to RBI are also specifically clarified by CBIC as taxable, since they are not covered by the exemption. So, if the question specifically says “services provided to RBI other than foreign exchange reserve management”, the answer is taxable. For GST and international taxation guidance, businesses can consult experienced chartered accountant firms in gurgaon, a qualified chartered accountant gurgaon, a reliable ca firm in gurgaon, or a professional ca in gurgaon.
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