Stock brokers need not pay GST on delayed payment charges from clients, rules Appellate Authority

In what may give a fillip to stock broking activity, an appellate authority has exempted stock brokers buying or selling shares for clients from payment of GST on delayed payment charges.   The Appellate Authority for Advance Ruling (AAAR), Uttar Pradesh, has modified an earlier order by the Authority for Advance Ruling (AAR), exempting tax on delayed payment interest or penalty charged by a…