Supply of securities under securities lending is taxable; lender paid GST earlier, borrower now liable under reverse charge. Lending of securities under the Securities Lending Scheme, 1997 is a taxable service when the lender charges a lending fee; intermediaries' facilitation is separately taxable. The supply is classifiable under financial services attracting 18% GST. For 01.07.2017-30.09.2019 the lender was liable under forward charge (IGST) and from 1 October 2019 the borrower is liable 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.
Supply of securities under securities lending is taxable; lender paid GST earlier, borrower now liable under reverse charge.
Lending of securities under the Securities Lending Scheme, 1997 is a taxable service when the lender charges a lending fee; intermediaries' facilitation is separately taxable. The supply is classifiable under financial services attracting 18% GST. For 01.07.2017-30.09.2019 the lender was liable under forward charge (IGST) and from 1 October 2019 the borrower is liable under reverse charge (IGST).
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