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        Case ID :
        GST - States

        Levy of GST on Priority Sector Lending Certificates (PSLC).

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        GST on Priority Sector Lending Certificates: seller banks liable on forward charge; pre-notification period subject to prescribed rate. GST on Priority Sector Lending Certificates (PSLCs) for the period 1-7-2017 to 27-05-2018 is taxable and the seller bank must discharge the tax on a forward charge basis; a 12% tax rate applies to trading of PSLCs in that pre-notification period.
                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.

                                GST on Priority Sector Lending Certificates: seller banks liable on forward charge; pre-notification period subject to prescribed rate.

                                GST on Priority Sector Lending Certificates (PSLCs) for the period 1-7-2017 to 27-05-2018 is taxable and the seller bank must discharge the tax on a forward charge basis; a 12% tax rate applies to trading of PSLCs in that pre-notification period.


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