CIRCULAR NO-34/2018 - Clarifications regarding GST in respect of certain services

$$ -Whether activity of bus body building, is a supply of goods or services?
$$- composite supply and needs an evaluation to find which one is principal supply


$$- Whether activity of bus body building, is a supply of goods or services?
$$- Value may be one of the guiding factors in this determination, but not the sole factor to find which one is principal supply within composite supply- 28% GST


$$ - Whether Priority Sector Lending Certificates (PSLCs) are outside the purview of GST and therefore not taxable?
$$- In GST there is no exemption to trading in PSLCs. Thus, PSLCs are taxable as goods at standard rate of 18% under the residuary S. No. 453 of Schedule III of notification No. 1/2017-Central Tax(Rate). GST payable on the certificates would be available as ITC to the bank buying the certificates


$$ - In GST there is no exemption to trading in PSLCs. Thus, PSLCs are taxable as goods at standard rate of 18% under the residuary S. No. 453 of Schedule III of notification No. 1/2017-Central Tax(Rate). GST payable on the certificates would be available as ITC to the bank buying the certificates?
$$- Service by way of transmission or distribution of electricity by an electricity transmission or distribution utility is exempt from GST however other services will be taxable e.g
 i. Application fee for releasing connection of electricity;
ii. Rental Charges against metering equipment;
iii. Testing fee for meters/ transformers, capacitors etc.;
iv. Labour charges from customers for shifting of meters or shifting of service lines;

$$- Whether the guarantee provided by State Government to state owned companies against guarantee commission, is taxable under GST?
$$- The service provided by Central Government/State Government to any business entity including PSUs by way of guaranteeing the loans taken by them from financial institutions against consideration in any form including Guarantee Commission is taxable


For reading full circular please refer link - http://www.cbec.gov.in/resources//htdocs-cbec/gst/circularno-34-cgst.pdf

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