In the amendment:- new service under reverse charge mechanism, in services of lending of securities, Can u give a example of when will the borrower has to pay Gst ?
"The lender temporarily lends the securities held by him to a borrower and charges lending fee for the same from the borrower. The borrower of securities can further sell or buy these securities and is required to return the lended securities after stipulated period of time. The lending fee charged from the borrowers of securities has the character of consideration and this activity is taxable in GST. The Borrower is liable to pay tax under RCM @18%once he gets the securities into his hands (transaction is complete)"