Payment of tax under reverse charge on purchase of Priority Sector Lending Certificate
The Central Board of Indirect Taxes and Customs Vide Notification No 11/2018 –Central tax (Rate) dated 28th May 2018 had brought supply of Priority Sector Lending Certificate by a registered supplier to another registered person
under reverse charge mechanism. So,now the recipient is liable to pay tax in case of purchase of the said certificate
at the rate of 12%.