The Securities Exchange Board of India (SEBI) has clarified that 18% GST is applicable on the fees and other charges payable to the Board.
This in the light of the decision of the GST Council in its meeting held on June 28 and June 29, 2022, wherein the counsel headed by Union Finance Minister Ms. Nirmala Sitharaman recommended to withdraw the exemption granted to services by SEBI and the same has been notified vide Notification No.4/2022 dated 13th July, 2022.
A circular issued on Monday by the SEBI in this regard clarified that “Accordingly, all the Market Infrastructure Institutions, Companies who have listed / are intending list their securities, other intermediaries and persons who are dealing in the securities market, are hereby informed that the fees and other charges payable to SEBI shall be subject to GST at the rate of 18% with effect from July 18, 2022.”
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