SPFL Securities Ltd ., In re
- Court:
- Appellate Authority for Advance Ruling
- Bench:
- Uttar Pradesh
- Date:
- April 18, 2019
- Type:
- Advance Ruling
- Members:
- Rajeev Tandon, Amrita Soni
Subject
GST NOT leviable on delayed payment charges on reimbursement of amount by client to applicant, where client failed to pay amount paid to stock Exchanges for purchase of securities
Summary
Q) Taxability on delayed payment charges on reimbursement of amount by client to applicant, where client failed to pay amount paid to stock Exchanges for purchase of securities with T+1 (Trading day plus one day) under SEBI regulation norms and deduc…
Judgement
The present appeal has been filed under Section 100 of the Central Goods and Service Tax Act and Uttar Pradesh Goods and Service Tax Act, 2017 (hereinafter referred to as “the CGST Act and UPGST Act”) by M/s. SPFL Securities Ltd., 15/63- M, SPFL House, Civil Lines, Kanpur – 208001 (hereinafter referred to as the “Applicant”) against the Advance Ruling Order No.1…