Place of supply rules for custodial services clarified; circular to be circulated to officials and trade organisations for compliance. Clarification concerns the place of supply applicable to custodial services provided by banks to Foreign Portfolio Investors; the central circular clarifying these rules is attached and the State Tax Commissioner directs subordinate officers and business organisations to be informed and to act on the guidance for tax characterisation and compliance.
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Place of supply rules for custodial services clarified; circular to be circulated to officials and trade organisations for compliance.
Clarification concerns the place of supply applicable to custodial services provided by banks to Foreign Portfolio Investors; the central circular clarifying these rules is attached and the State Tax Commissioner directs subordinate officers and business organisations to be informed and to act on the guidance for tax characterisation and compliance.
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