https://www.taxtmi.com/circulars?id=70850 Place of supply for custodial services supplied by banks or financial institutions to Foreign Portfolio Investors is determined under the default rule in section 13(2) of the Integrated Goods and Services Tax Act, 2017. Such services are not supplied to an account holder for section 13(8)(a), which concerns holders of interest-bearing deposit accounts. Custodial functions, including safekeeping securities, maintaining securities accounts and records, collecting benefits, and communicating issuer actions, are distinct from ordinary banking services to deposit account holders. The recipient's location applies where ascertainable; otherwise, the supplier's location applies. en-us Mon, 15 Jul 2024 00:00:00 +0530 Wed, 19 Aug 2026 16:55:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=70850 Place of supply for custodial services supplied by banks or financial institutions to Foreign Portfolio Investors is determined under the default rule in section 13(2) of the Integrated Goods and Services Tax Act, 2017. Such services are not supplied to an account holder for section 13(8)(a), which concerns holders of interest-bearing deposit accounts. Custodial functions, including safekeeping securities, maintaining securities accounts and records, collecting benefits, and communicating issuer actions, are distinct from ordinary banking services to deposit account holders. The recipient's location applies where ascertainable; otherwise, the supplier's location applies. Circulars GST - States Mon, 15 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/circulars?id=70850