M/s SPFL Securities Ltd.

Modify the Ruling No.18 dated 14.12.2018 of the Authority on Advance Ruling to the extent that Applicant is not liable to pay GST on the delayed payment charges on reimbursement of amount by client to Applicant, where client failed to pay amount paid to Stock Exchange for purchase of securities with T+1 (trading day plus one day) under SEBI Regulation norms and deducted by Stock Exchange from Applicant account being purchase consideration of securities which are neither goods nor services under GST."