Inter-bank Priority Sector Lending Certificates trading, a supply of goods, liable to IGST

CBIC clarifies that supply of Priority Sector Lending Certificates (PSLCs) between banks shall be treated as a supply of goods in course of inter-State trade or commerce; Accordingly, clarifies that IGST shall be payable on supply of PSLC traded over e-Kuber portal of RBI for the period i.e July 1, 2017 to May 27, 2018 and May 28, 2018 onwards; However, IGST shall not be required to be paid by the bank to the extent of CGST/SGST/UTGST already paid towards such supply : CBIC C...