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        GST - States

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

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        GST on Priority Sector Lending Certificates: seller bank bears tax liability under forward charge for prior-period trading. For PSLC trades between 1 July 2017 and 27 May 2018 the seller bank must pay GST on a forward charge basis, and a GST rate of 12 per cent applies; the clarification is effective from 12 September 2018.
                          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 bank bears tax liability under forward charge for prior-period trading.

                                For PSLC trades between 1 July 2017 and 27 May 2018 the seller bank must pay GST on a forward charge basis, and a GST rate of 12 per cent applies; the clarification is effective from 12 September 2018.


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