Lending of securities is a taxable service; borrowers assume GST liability under reverse charge from October 2019. Lending of securities under the Securities Lending Scheme, 1997 is a taxable service because it does not involve disposal of securities; the lending fee is taxable from 01.07.2017. Intermediaries' facilitation services are separately taxable. From 01.07.2017 to 30.09.2019 GST was payable by the lender under forward charge (IGST); from 01.10.2019 GST liability shifts to the borrower under reverse charge (IGST).
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.
Lending of securities is a taxable service; borrowers assume GST liability under reverse charge from October 2019.
Lending of securities under the Securities Lending Scheme, 1997 is a taxable service because it does not involve disposal of securities; the lending fee is taxable from 01.07.2017. Intermediaries' facilitation services are separately taxable. From 01.07.2017 to 30.09.2019 GST was payable by the lender under forward charge (IGST); from 01.10.2019 GST liability shifts to the borrower under reverse charge (IGST).
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
