PSLC trading by banks on e-Kuber to attract IGST

Trading of priority sector lending certificates (PSLCs) on the government’s e-Kuber portal by banks will attract integrated goods and services tax (IGST). However, if the bank has already paid Central and State GST for the transaction, then it will not have to pay IGST. “Nature of supply of PSLC between banks may be treated as a supply of goods in the course of inter-State trade or commerce,” the…