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WELCOME TO TAXLOK.COM. THIS SITE IS TO SOLVE ALL YOUR TAX PROBLEMS. SUBSCRIBE OUR PRODUCTS ONLINE AND OFFLINE FOR QUICK SOLUTION OF YOUR TAX PROBLEMS AND STAY AHEAD IN YOUR PROFESSION. YOU CAN SUBSCRIBE RIGHT NOW. || WELCOME TO TAXLOK.COM. THIS SITE IS TO SOLVE ALL YOUR TAX PROBLEMS. SUBSCRIBE OUR PRODUCTS ONLINE AND OFFLINE FOR QUICK SOLUTION OF YOUR TAX PROBLEMS AND STAY AHEAD IN YOUR PROFESSION. YOU CAN SUBSCRIBE RIGHT NOW. || WELCOME TO TAXLOK.COM. THIS SITE IS TO SOLVE ALL YOUR TAX PROBLEMS. SUBSCRIBE OUR PRODUCTS ONLINE AND OFFLINE FOR QUICK SOLUTION OF YOUR TAX PROBLEMS AND STAY AHEAD IN YOUR PROFESSION. YOU CAN SUBSCRIBE RIGHT NOW.
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GST is liable to be paid on the contribution made by Members towards "Annual Membership Fees and registration fees" to the Corpus Fund of BCSBI and recurring expenditure being incurred.

Shanti Prime Publication Pvt. Ltd. Sections 7, 2(17), 2(31), of CGST Act, 2017 – Levy of Tax - The Applicant Board was formed in the year 2006 by the RBI for the purpose of creating awareness and ensuring the correct following of the Codes and Standards for Services by the Banks in India. For the first 5 years i.e. from 2006 to 2011, it was fully funded by the Reserve Bank of India. The Annual Subscription is collected only to run the day-to-day activities in the interest of Consumer Protection. Major part of the expenditure is spent on creating consumer awareness of their rights and the balance is towards overhead and salaries. No service is provided by the Applicant to the Member Banks. The Membership is voluntary. However, the Member Banks are required to follow the Codes mandatorily. The Applicant sought Advance Ruling “Whether GST is liable to be paid on the contribution made by Members towards “Annual Membership Fees and registration fees” to the Corpus Fund of BCSBI and recurring expenditure being incurred.” The Authority ruled out that the activity of the Applicant is falling under the definition of “Supply”, as per Section 7 of the CGST Act, 2017; “Principle of Mutuality” is non-existent in the subject case and; the activity of Applicant is to be termed as “Business” as provided under Section 2 (17) (e) of the CGST Act, 2017.The Banking Codes And Standards Board of India [2018] 3 TAXLOK.COM 03 (AAR-Maharashtra)
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