Court :
AAAR, Uttar Pradesh
Brief :
The Hon'ble AAAR, Uttar Pradesh in the matter of SPFL Securities Ltd. [Order No. 06/AAAR/18/4/2019, dated April 18, 2019] held that Goods and Services Tax ('GST') is not liable to be paid on delayed payment charges recovered from the client towards trading of securities upon payment made by them beyond the time stipulated by the stock exchange and SEBI and for which payment is deducted by the stock exchange from the broker's account.
Citation :
Order No. 06/AAAR/18/4/2019, dated April 18, 2019
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