Daily Archives: June 4, 2018

GST on Stock Brokers services to non residents of India : CBIC Clarify

By | June 4, 2018

Stock Brokers deal with clients who  are not residents of India like  Foreign Portfolio Investors, Non Resident Indians, Persons of Indian Origin, etc. Will brokerage earned from such clients who are not resident in India qualify as “export of service” under section 2(6) of the IGST Act, 2017? The stock broker being an intermediary, this situation… Read More »

Category: GST

Place of business for stock broker : CBIC Clarify

By | June 4, 2018

What is the “place of business” for a  stock broker? Section 2(85) of the CGST Act, 2017 defines “place of business” to include: (i) a place from where the business is ordinarily carried on, and includes a   warehouse, a godown or any other place where a taxable person stores his goods, supplies or receives goods… Read More »

Category: GST

Sub-broker needs mandatory GST Registration : CBIC Clarify

By | June 4, 2018

Would sub-brokers/ Authorized  Persons fall in the definition of  “agent” under Section 2(5) of the CGST Act, 2017? What would be the registration requirement for sub-brokers/ Authorized Persons in the context of the Goods and Services  Tax Regime? As per Stock Brokers and Sub Brokers Regulation, 1992 issued by SEBI, a “sub-  broker” means “any person,… Read More »

GST on interest/ delayed  payment charges of brokerage amount/settlement obligations/margin trading facility : CBIC Clarify

By | June 4, 2018

Is GST leviable on interest/ delayed  payment charges charged to clients  for debit for settlement obligations/ margin trading facility? Any interest/ delayed payment charges charged for delay in payment of  brokerage amount/settlement obligations/margin trading facility shall be leviable to GST.   Q 80 of GST FAQs on Financial Services Sector published by CBIC

Category: GST

GST on stock  broking service : CBIC Clarify

By | June 4, 2018

Is brokerage earned in stock  broking service liable to Goods and  Services Tax? Yes. Since the stock brokers are engaged in the business of supplying the stock  broking service, appropriate GST is payable on the same. Q 78 of GST FAQs on Financial Services Sector published by CBIC

Category: GST