In re Banayan Tree Advisors (p) Limited (GST AAR Karnataka)
Whether they need to charge GST on the Portfolio Management Services provided to Non-resident client, where the client pays fee in foreign currency from their overseas account to the account of the Portfolio manager?
It is clearly evident from the above that the place of supply of the services must be outside India for the said services to be considered as “export of services”. Therefore determination of place of supply is very crucial in the instant case so as to decide whether the provision of said services amount to export of services or not. Now, thus we proceed to examine whether the question on which the applicant sought advance ruling is admissible in terms of Section 97(2) of the CGST Act 2017 or not.
We draw attention to Sub-section (2) of Section 97 of the CGST Act 2017 which prescribes the issues on which advance rulings can be sought by the applicant.
The question raised by the applicant on which advance ruling has been sought for does not fall under any of the category of Section 97(2) of the CGST Act 2017. Further it is an admitted fact that the applicant’s question is related to place of supply and hence it is not a matter on which this authority is empowered to give a ruling. Therefore the instant application is liable for rejection and hence we do not intend to get into the merits of the case.
