POS - Services in relation to Banking and financial services (Where either the supplier or the recipient is located outside India) [ Section 13(8)(a) of IGST Act ]

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....nancial institution or non-banking financial company or banking services provided to persons other than account holders. In this case, if any services which does not qualify as a services provider to an account holder, the place of supply will be determined under the general provisions i.e. section 13(2) of IGST Act 2017. Explanation - For the purposes of this sub-section, the expression,-- (a) "account" means an account bearing interest to the depositor, and includes a non-resident external account and a non-resident ordinary account; (b) "Banking company" shall have the same meaning as assigned to it under clause (a) of section 45A of the Reserve Bank of India Act, 1934; "Banking company" means a banking company as defined in s....

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....lled, monies in lumpsum or otherwise, by way of subscriptions or by sale of units, or other instruments or in any other manner and awarding prizes or gifts, whether in cash or kind, or disbursing monies in any other way, to persons from whom monies are collected or to any other person, but does not include any institution, which carries on as its principal business,- (a) agricultural operations; or (aa) industrial activity; or Explanation.- For the purposes of this clause, "industrial activity" means any activity specified in sub-clauses (i) to (xviii) of clause (c) of section 2 of the Industrial Development Bank of India Act, 1964; (b) the purchase or sale of any goods (other than securities) or the providing of any services; or ....