important Keyword: Notification 34/2017 IGST, RCM GST India, RBI GST reverse charge, GST committee services India, IGST reverse charge notification,
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Table of Contents
[F. No. 354/173/2017- TRU]
Government of India
Ministry of Finance
(Department of Revenue)
New Delhi, the 13th October, 2017
Notification No. 34/2017 - Integrated Tax (Rate): Seeks to amend notification No. 10/2017-IT(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 5 of the Integrated Goods and Services Tax Act, 2017 (13 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.10/2017- Integrated Tax (Rate), dated the 28th June, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 685(E), dated the 28th June, 2017, namely:-
In the said notification,-
(i) in the Table, after serial number 11 and the entries relating thereto, the following serial number and the entries shall be inserted, namely: -
| “12 | 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. 10/2017 - Integrated Tax (Rate), dated the 28th June, 2017, vide number G.S.R. 692 (E), dated the 28thJune, 2017 and was last amended by notification No. 22/2017 - Integrated Tax (Rate) dated the 22ndAugust, 2017 vide number G.S.R. 1051(E), dated the 22ndAugust, 2017.
📚 Frequently Asked Questions (FAQs): Notification No. 34/2017 — Integrated Tax (Rate)
Q1: What is Notification 34/2017 about?
Answer: It brings RBI committee services under RCM.
GST is payable by RBI instead of service provider.
Q2: Who pays GST in this case?
Answer: RBI pays GST.
It is liable under reverse charge.
Q3: Do committee members charge GST?
Answer: No.
They issue invoice without GST.
Q4: What is RCM in GST?
Answer: Reverse Charge Mechanism.
Tax is paid by recipient.
Q5: Why is RCM applied here?
Answer: To simplify compliance.
Individual members need not register/pay GST.
Q6: Does this apply to all RBI services?
Answer: No.
Only specific committee services.
Q7: Is ITC available to RBI?
Answer: Depends on usage.
ITC rules apply normally.
Q8: Is GST registration required for members?
Answer: Not for this service.
RCM shifts liability.
Q9: What happens if RBI doesn’t pay GST?
Answer: Liability arises.
With interest and penalty.
Q10: How to report RCM in GST return?
Answer: Report in GSTR-3B.
Under reverse charge section.
Q11: Is this still applicable?
Answer: Yes, unless amended.
Check latest updates.
Q12: Can RCM apply to private companies?
Answer: Yes, in certain cases.
Depends on notification.
Q13: What is Notification 10/2017?
Answer: Main RCM notification.
Lists all RCM services.
Download PDF: Notification No. 34/2017 — Integrated Tax (Rate)
More Information: https://taxinformation.cbic.gov.in/
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