IGST on PSLC trading applies as inter state goods supply, and prior CGST/SGST payment prevents further IGST liability. PSLCs traded between banks on the RBI e Kuber portal are to be treated as a supply of goods in the course of inter State trade, and IGST is payable on such supplies. Prior arrangements had GST on PSLCs under forward charge for 1.7.2017-27.05.2018 and under reverse charge from 28.05.2018. Where a bank has already paid CGST/SGST or CGST/UTGST for a supply, it need not pay IGST in respect of that supply.
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.
IGST on PSLC trading applies as inter state goods supply, and prior CGST/SGST payment prevents further IGST liability.
PSLCs traded between banks on the RBI e Kuber portal are to be treated as a supply of goods in the course of inter State trade, and IGST is payable on such supplies. Prior arrangements had GST on PSLCs under forward charge for 1.7.2017-27.05.2018 and under reverse charge from 28.05.2018. Where a bank has already paid CGST/SGST or CGST/UTGST for a supply, it need not pay IGST in respect of that supply.
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