Summary
CBIC said a certificate from the head of the grant-receiving institution can support the GST exemption for R&D (not consultancy) services. Recoveries like road tax, insurance and FASTag by a vehicle lessor are part of the leasing supply, notional interest under banks' fund transfer pricing counts as exempt interest, TRAI is not 'Government', and NBFC services to banks under co-lending are taxable.
What it means for you
Research bodies, leasing firms, banks and NBFCs get clarity that should reduce disputes, and foreign shipping lines' related-party imports are exempt from 1 Nov 2026 with past payments regularised.
This summary is general information, not legal advice. The outcome of any case depends on its facts; read the source and take advice before acting.
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