Applicability of Notification No.15/2018 dated 26-07-2018 to Brokers

[Prashanth G]

The CGST (Rate) Notification No.15/2018 dated 26-07-2018 applies to Individual Direct Sales Agents (DSA) other than a body corporate, partnership or LLP. Accordingly, service recipients- Banks & NBFCs has to pay GST on Reverse Charge Mechanism.

Need expert opinion whether this notification is applicable even to the brokers. Case Laws, if any, in this connection will be appreciated 

AI Summary

Reverse Charge Mechanism may require banks and NBFCs to pay GST for services from individual brokers/DSAs; applicability queried. Notification No.15/2018 makes service recipients such as banks and NBFCs liable to pay GST under the Reverse Charge Mechanism for services provided by Individual Direct Sales Agents who are not bodies corporate, partnerships, or LLPs; the key question raised is whether brokers are covered by this provision.