 "Bourses, people dealing in securities market to pay 18% GST on Sebi's fee")
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.
"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.
Stock exchanges, clearing corporations and depositories come under market infrastructure institutions.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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