Investment banking services classification clarifies GST coding and lists underwriting, guaranteed sale and sell on best efforts activities. Classification designates Group 99712 and Tariff 997120 for investment banking services under the GST Scheme of Classification of Services. Explanatory notes, based on the Modified UN Central Product Classification, list included activities: securities underwriting; guaranteeing the sale of an issue by purchasing from the issuer and reselling to investors; and engaging to sell as much of an issue as possible without guaranteeing purchase of the entire offering.
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Provisions expressly mentioned in the judgment/order text.
Investment banking services classification clarifies GST coding and lists underwriting, guaranteed sale and sell on best efforts activities.
Classification designates Group 99712 and Tariff 997120 for investment banking services under the GST Scheme of Classification of Services. Explanatory notes, based on the Modified UN Central Product Classification, list included activities: securities underwriting; guaranteeing the sale of an issue by purchasing from the issuer and reselling to investors; and engaging to sell as much of an issue as possible without guaranteeing purchase of the entire offering.
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