Taxability of Supply of Securities under Securities Lending Scheme – GST Circular No 119/2019

Circular No 119/2019

Clarification states that Transaction involving disposal of securities does not constitute a supply and hence is not chargeable to tax. However, the lending of securities under the scheme (Securities Lending Scheme, 1997) doesn’t results in the disposal of the securities and hence is chargeable to GST.

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Abhishek Sharma

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