Market infrastructure institutions, including stock exchanges, and persons dealing in the securities market will need to pay a GST of 18 per cent on the fees charged by the regulator Sebi. The new tax rate will be effective from Monday, the Securities and Exchange Board of India (Sebi) said in a circular. This comes after the GST Council last month recommended to withdraw the exemption granted to services by Sebi and the same was notified on July 13. Stock exchanges, clearing corporations and depositories come under market infrastructure institutions.
