Banking and Financial Services 50 days of GST Banking and Financial Services

Key Parameters State level registrations Invoicing and Place of Supply Expenditure Recording and Credits Inter-Branch Supplies and Valuation Tax Filing and Compliance Requirements

BANKING

Interpretation Areas Free or Concessional Services Services between HO and Branches outside India Taxation of PSLCs Electronic settlement charges Global Trade settlement charges Inter-Branch invoicing and ISD Import and Sale of Bullion Employee Perks and Facilities Intermediary services

Compliance and Reporting Requirements Registration of ATMs Updating GSTINs of customers Movement of assets, ATMs, PoS Self-Invoicing for RCM liability Exempt and Non-GST supplies LUT / Bonds for Exports and SEZ supplies Transition Credits – KKC, EC, SHEC Transition Invoicing and Credits Tracking ineligible ITC

INSURANCE

Interpretation and Compliance Aspects NRI Policies FMC for ULIP Statutory Investments and ITC Cancellation of Policies Co-Insurance and Re-Insurance Disposal of Salvage Agents Commission – RCM Supplies to SEZs Inter-Branch invoicing and ISD

STOCK BROKING, MUTUAL FUNDS, LEASING

Interpretation and Compliance Aspects Stock Broking Valuation – Stamp Duty and STT Prop. Trading Invoicing – Contract Notes vs. Separate Invoice Mutual Funds MF Agents Commission PoS by AMC Inter-Branch and Overflow of Expenses Leasing LoS and PoS Ongoing Leases Optional Management Services

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