Latest News | Stock Exchanges, Persons Dealing in Securities Market to Pay 18 Pc GST on Sebi's Fee
Get latest articles and stories on Latest News at LatestLY. Market infrastructure institutions, including stock exchanges, and persons dealing in the securities market will need to pay a GST of 18 per cent on the fees charged by the regulator Sebi.
New Delhi, Jul 18 (PTI) Market infrastructure institutions, including stock exchanges, and persons dealing in the securities market will need to pay a GST of 18 per cent on the fees charged by the regulator Sebi.
The new tax rate will be effective from Monday, the Securities and Exchange Board of India (Sebi) said in a circular.
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"All the market infrastructure institutions, companies who have listed/are intending to list their securities, other intermediaries and persons who are dealing in the securities market are hereby informed that the fees and other charges payable to Sebi shall be subject to GST (Goods and Services Tax) at the rate of 18 per cent with effect from July 18, 2022," it added.
This comes after the GST Council last month recommended to withdraw the exemption granted to services by Sebi and the same was notified on July 13.
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Stock exchanges, clearing corporations and depositories come under market infrastructure institutions.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)