No GST on reimbursement of delayed payment for purchase of securities

In re SPFL Securities Ltd (GST AAAR Uttar Pradesh)

The nature of the delayed payment charges are being summarized below for understanding its taxability under the GST law:-

Where the client makes delay (i.e. beyond T+1 statutory time limit for payment as per SEBI regulations) in reimbursing the expense (being purchase consideration of the securities bought for client and already collected from stock broker by stock exchange with T+l time limit) to the broker and broker charges amount on delay of such reimbursemen

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