Notification No. 33/2017 - Central Tax (Rate) Explained

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Notification No. 33/2017- Central Tax (Rate): Seeks to amend notification No. 13/2017-CT(R) regarding services provided by Overseeing Committee members to RBI under RCM.

GST: [TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)]

GSR......(E).- In exercise of the powers conferred by sub-section (3) of section 9 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government on the recommendations of the Council hereby makes the following further amendments in the notification of the Government of India, in the Ministry of Finance (Department of Revenue), No.13/2017- Central Tax (Rate), dated the 28^thJune, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 692(E), dated the 28^thJune, 2017, namely:-

In the said notification,-

(i) in the Table, after serial number9and the entries relating thereto, the following serial number and the entries shall be inserted, namely: -

“10

Supply of services by the members of Overseeing Committee to Reserve Bank of India

Members of Overseeing Committee constituted by the Reserve Bank of India

Reserve Bank of India.”.

(Ruchi Bisht)
Under Secretary to the
Government of India

Note: -The principal notification was published in the Gazette of India, Extraordinary, vide notification No. 13/2017 - Central Tax (Rate), dated the 28^th June, 2017, vide number G.S.R. 692 (E), dated the 28^thJune, 2017 and was last amended by notification No. 22/2017 - Central Tax (Rate) dated the 22^ndAugust, 2017 vide number G.S.R. 1047(E), dated the 22^ndAugust, 2017.

📚 Frequently Asked Questions (FAQs): Notification No. 33/2017 – Central Tax (Rate)

Q1: What is Notification 33/2017 in GST?

Answer:
It adds services provided by Overseeing Committee members to RBI under reverse charge mechanism.
This means RBI pays GST instead of the service provider.

Q2: What is reverse charge mechanism (RCM)?

Answer:
RCM means the recipient pays GST instead of the supplier.
It applies only to notified goods or services.

Q3: Who pays GST under this notification?

Answer:
Reserve Bank of India (RBI).
The service provider does not charge GST.

Q4: Under which section is this issued?

Answer:
Section 9(3) of CGST Act.

Q5: Does this apply to all services to RBI?

Answer:
No.
Only services by Overseeing Committee members are covered.

Q6: Is invoice issued with GST?

Answer:
No.
Invoice is issued without GST under RCM.

Q7: Can RBI claim ITC?

Answer:
Yes, subject to eligibility.

Q8: Is this relevant for normal businesses?

Answer:
Not directly.
But it helps understand how RCM works.

Q9: Why is RCM used here?

Answer:
To simplify compliance and ensure proper tax collection.

Q10: Is this notification still applicable?

Answer:
Yes, unless amended.

Q11: What is Notification 13/2017?

Answer:
It lists services covered under reverse charge.

Q12: Can RCM apply to other specialised services?

Answer:
Yes.
Government can notify any service under RCM.

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