Summary CBIC has clarified GST treatment across shipping, vehicle leasing, research and banking services. For Indian establishments of foreign shipping companies, specified overseas services received without consideration will be exempt from 1 November 2026, while the circular regularises past GST treatment. Other clarifications address leasing recoveries, research grants and financial services. Exemption covers specified overseas shipping-company services Shipping GST relief will apply from 1 November 2026 to services imported without consideration by Indian establishments of foreign shipping companies from related persons or their other establishments outside India. The exemption is introduced through Notification No. 07/2026-Integrated Tax (Rate), dated 27 October. It inserts a specific entry into the existing integrated-tax exemption framework. Its scope is defined by the recipient…
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