Notification No. 12/2018
Date: May 28, 2018
Subject: Levy of IGST under reverse charge on Priority Sector Lending Certificates (PSLC).
Description:
This notification amends Notification No. 4/2017–Integrated Tax (Rate) to notify Priority Sector Lending Certificates as supplies liable to IGST under reverse charge. Both supplier and recipient are required to be registered persons. The amendment ensures tax neutrality in inter-bank trading of PSLCs.
Issued for earlier notification?
Yes — it amends Notification No. 4/2017–Integrated Tax (Rate).