Custodial services by banks/FIs to FPIs not treated as services to 'account holder' u/s 13(8)(a) IGST Act. Determined under default 13(2).
Circulars
GST – States
Clarification provided that custodial services provided by banks or financial institutions to Foreign Portfolio Investors (FPIs) are not treated as services provided to 'account holder' u/s 13(8)(a) of IGST Act. Such services are not covered u/s 13(8)(a). Place of supply of custodial services to FPIs is to be determined under d
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