Banks reach out to advisers seeking clarity on GST over CBLO income

MUMBAI: Top banks that use collateralised borrowing and lending obligation (CBLO) instruments have reached out to their tax advisers, seeking clarity on whether they could face problems under the goods and services tax regime. They had faced tax demand on their CBLO income under the pre-GST  indirect tax regime. CBLO is a lending and borrowing instrument issued in an electronic book entry for…