Frequently Asked Questions on Banking, Insurance and Stock Brokers Sector




Sr. No.





Whether Banks are required to

capture the details of ATMs in registration certificate as a ‘place of business’?

No. Banks are not required to provide the details of ATMs while applying for registration. For the purposes of registration, ATM on its own does not constitute a place of business, as defined in the CGST Act, 2017.



As per RBI guidelines, Banks can use

third party ATMs, Business

Correspondents (BC), Customer Service Points (CSP) or third party warehouses. Are Banks required to include these third party places also in their GST registration?

No. Third party places are neither places of business nor fixed establishments from where Banks ordinarily carry on their business. These are independent service providers to the Bank which are subject to GST. Thus, these places are not required to be declared as place of business by the Bank.



What will be the time of supply in

respect of services rendered upto 30th June, 2017 where the invoices are raised or payments are received after 30th June, 2017?

Where the services are rendered upto 30th June, 2017 and invoices in respect thereof are also raised on or before 30th June, 2017, the point of taxation would be as per the earlier service tax law and the services will be subject to service tax.

Where the services are rendered upto 30th June, 2017 and the services are liable to be taxed under the reverse charge mechanism, the point of tax for such services as per the Point of Taxation Rules, 2011 shall be the date of payment. If the payment is made on or after 1 July, 2017, the supply of services shall be liable to GST.


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