Place of supply for custodial services to foreign portfolio investors follows the default GST rule, not account-holder treatment. Custodial services provided by banks or financial institutions to Foreign Portfolio Investors are not treated as services supplied to an account holder under section 13(8)(a) of the IGST Act. Such services, consisting of safekeeping securities and related incidental functions, fall outside that provision and their place of supply is to be determined under the default rule in section 13(2) of the IGST Act.