Inter State Supply IGST payable on trading of Priority Sector Lending Certificates, with credit where CGST/SGST already paid. Trading of Priority Sector Lending Certificates (PSLC) on the RBI e-Kuber portal is a supply of goods in the course of inter State trade, and therefore attracts Integrated Goods and Services Tax (IGST). This applies to both the earlier forward charge period and the subsequent reverse charge period. Banks that have already paid CGST/SGST or CGST/UTGST for such transactions are not required to pay IGST additionally. The Circular is clarificatory in nature.
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.
Inter State Supply IGST payable on trading of Priority Sector Lending Certificates, with credit where CGST/SGST already paid.
Trading of Priority Sector Lending Certificates (PSLC) on the RBI e-Kuber portal is a supply of goods in the course of inter State trade, and therefore attracts Integrated Goods and Services Tax (IGST). This applies to both the earlier forward charge period and the subsequent reverse charge period. Banks that have already paid CGST/SGST or CGST/UTGST for such transactions are not required to pay IGST additionally. The Circular is clarificatory in nature.
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