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Why is GST being levied on SEBI charges?

SEBI charges are levied on all registered stock exchanges based on their respective turnover and have been applicable since 1st January 2007.

SEBI charges were exempted from GST. However, the exemption is withdrawn, and the GST is applicable at 18% from 18th July 2022 onwards, as mentioned in the circular issued by SEBI (PDF).