Levy of Goods & Services Tax (GST) on the fees payable to SEBI
Summary
The GST Council recommended withdrawing the exemption for services provided by SEBI, which was notified via Notification No. 4/2022 dated July 13, 2022. Consequently, fees and other charges payable to SEBI are now subject to Goods & Services Tax (GST) at a rate of 18%. This tax levy is effective from July 18, 2022, and applies to Market Infrastructure Institutions, listed companies, intermediaries, and persons dealing in the securities market.
Text
The GST Council recommended inter alia to withdraw the exemption granted to services by SEBI and the same has been notified vide Notification No.4/2022 dated 13th July, 2022.
The fees and other charges payable to SEBI shall be subject to GST at the rate of 18% with effect from July 18, 2022.
Source: SecMarx — Levy of Goods & Services Tax (GST) on the fees payable to SEBI. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.