Trading members are aware that Goods and Services Tax (GST) is applicable with effect from July 01, 2017. In view of the same and with reference to Exchange notices regarding current LES Incentives scheme on Equity Derivatives, trading member desirous of claiming LES Incentive on their market making are required to submit GST invoices.
The GST Invoice must include following details:
· Invoice should be prepared on official letterhead of the company and include details such as Name, Address, Telephone Number, Member ID
· GST Invoice should be addressed in the name of ‘BSE Limited’ with GSTIN of the Exchange 27AACCB6672L1ZA included in the Invoice.
· Date of the Invoice
· GST Invoice No.(a consecutive serial number not exceeding sixteen characters, in one or multiple series, containing alphabets or numerals or special characters hyphen or dash and slash symbolized as “-” and “/” respectively, and any combination thereof, unique for a financial year; Eg: 086_2017-2018/01)
- GST Identification Number (GSTIN) of Trading Member
· Service Accounting Code (SAC Code)- 997152
· PAN Number.
· TAN Number.
· Month for which LES Incentive is claimed. (period of LES from date to date
Break up of GST component claimed divided into following components
- CGST Amount
- SGST Amount,
- IGST Amount if any,
- Total GST Amount Claimed (CGST+SGST or IGST)
- Total Invoice Amount (LES incentive withholding tax + total of GST component)
- Signature of Authorised Signatory.
GST invoice to be uploaded in BSE Electronic Filing System (BEFS) under option ‘LEIP Invoice Upload. Trading Members are hereby requested to submit their GST invoice within 30 days from the month for which LES Incentive is claimed in compliance with GST regulations and to enable the Exchange to credit LES Incentive as applicable. Exchange shall pay the LES Incentive along with GST component after deduction of Tax as applicable after submission of GST invoice by members.
Members who are liable to pay GST on their supplies may issue invoice to Exchange charging GST on the amount of incentive passed on to them and the said GST shall also be reimbursed to members. Member are requested to mention the GSTIN of BSE in their invoices and file their GSTR 1 accordingly. It may be noted that in case of mis-match, GST amount reimbursed by BSE shall be recovered along with interest.
Format for GST invoice and undertaking for declaration regarding non registration under CGST/SGST/IGST is attached as Annexure.
For any queries in this regard, members are requested to contact Mr. Piyush Shelat 022-22728197/8226 or send an email on email@example.com.
For & on behalf of BSE Ltd,
Sr.GM – Trading Operations
AGM – Trading Operations