Applicability of GST on fees remitted to SEBI - Revision in Chapter XX of Operational Circular dated August 10, 2021
Summary
This circular revises Chapter XX of the NCS Operational Circular to incorporate Goods and Services Tax (GST) on fees payable to SEBI. It mandates that remitters provide specific details, including GST amount at 18%, via email immediately after making the payment. The amendment applies to issuers of non-convertible securities and related entities, coming into force with immediate effect.
Text
fees and other charges payable to SEBI shall become subject to GST at the rate of 18% w.e.f. July 18, 2022
Provide the remittance particulars by email at od-ddhs@sebi.gov.in, immediately after the remittance is made, in the following format
Sl. No. Particulars Remarks 1 Date of remittance Fees amount Amount remitted (break-up of fee and GST thereof) GST@18% Total amount paid 2 Remitter account number 3 Name of the Origin Bank 4 Remitter IFSC code 5 UTR No./ Transaction Reference No. 6 Payment product code (NEFT, RTGS, etc.) 7 Registered name of remitter 8 Registered office address of remitter including State/ UT 9 Email address Complete address from where the money is being remitted including State/ UT 10 GST Registration Number of Remitter 11 Purpose for which remittance is made
The provisions of this circular shall come into force with immediate effect
The Circular is issued in exercise of the powers conferred under Section 11(1) of the Securities and Exchange Board of India Act, 1992, read with Regulation 55 (1) of the SEBI (Issue and Listing of Non-convertible Securities) Regulations, 2021 and Regulation 48 of the SEBI (Issue and Listing of Securitised Debt Instruments and Security Receipts) Regulations, 2008
Source: SecMarx — Applicability of GST on fees remitted to SEBI - Revision in Chapter XX of Operational Circular dated August 10, 2021. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.