June 21, 2016

Will stock transactions be subjected to additional tax under GST?

The model goods & services tax (GST) draft released by the Union government has raised questions on whether capital market transactions would be subject to an additional tax. The confusion has arisen from the definition of “goods”, which as per the draft law includes “securities”.

The model GST law released by the finance ministry on its website defines goods as “every kind of movable property other than actionable claim and money but includes securities, growing crops, grass and things attached to or forming part of the land which are agreed to be severed before supply or under the contract of supply”.

Read more at http://www.livemint.com/Money/eS7ZSaTIJMm28HoKUYxhoI/Will-stock-transactions-be-subjected-to-additional-tax-under.html

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