Important Keyword: F. No. 354/124/2018-TRU,
F. No. 354/124/2018-TRU
Government Of India
Ministry of Finance
Department of Revenue
Central Board of Indirect Taxes and Customs
New Delhi, 12th September, 2018
Circular No. 62/36/2018 – GST
Table of Contents
To
The Principal Chief Commissioners / Chief Commissioners/ Principal Commissioners/ Commissioner of Central Tax (All) /
The Principal Director Generals/ Director Generals (All). Madam/Sir,
Subject: Levy of GST on Priority Sector Lending Certificates (PSLC) – regarding
Representations have been received requesting to clarify the following:
- Mechanism for discharge of tax liability on trading of Priority Sector Lending Certificate (PSLC) for the period 1.7.2017 to 27.5.2018.
- Goods and Service Tax rate applicable on trading of PSLCs.
2. The representations have been examined. With the approval of the Goods and Service Tax Implementation Committee of the Goods and Service Tax Council, it is clarified that Goods and Service Tax on PSLCs for the period 1.7.2017 to 27.05.2018 will be paid by the seller bank on forward charge basis and Goods and Service Tax rate of 12% will be applicable on the supply.
3. Difficulty, if any, in the implementation of this circular may be brought to the notice of the Board immediately.
Yours Sincerely,
(Parmod Kumar)
OSD(TRU II)
Tele No.: 011-23092374
E-mail: parmodkumar.71@gov.in
Read More: Corrigendum to Circular No. 63/37/2018-GST
Download Pdf: https://taxinformation.cbic.gov.in/
