GST : place of supply of  services in case of stock brokers : CBIC Clarify

By | June 4, 2018
(Last Updated On: June 4, 2018)

What will be the “place of supply of  services” in case of stock brokers?

In case of stock broking, the details of the address of the client are required to  be updated with the Stock Exchange as part of the “Unique Client Code” details. Therefore, in case of domestic supplies of such services, address on record with the stock brokers shall be the “location of the recipient of services” in terms of section 12(12) of the IGST Act, 2017.

However, in cases where the the  location of the recipient is outside India, the place of supply shall be  determined as per section 13(8) of the IGST Act, 2017 i.e. as an intermediary.

 

Q 81 of GST FAQs on Financial Services Sector published by CBIC

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