Under the section 2(85) of CGST Act,2017 the place of business include:
(i) A place from which business is usually done, and a warehouse or any other place where the taxable person stores his or her goods, supplies or receives goods or both.
(ii) A place where a taxable person maintains the books of his books
(iii) a place where a taxable person is engaged in the business by any name through the agent.
In the case of the operation of the stock broker, it is required by law that all transactions will be through a screen based business on the stock exchanges. Therefore, in case of stock brokers the following will be “Business place”:
(i) All branches of stock broker where stock exchange trading terminals are located and where business is done by customers;
(ii) Head Office / Head Office / Registered Office / Branch Office where customers are made to back office operations, including issuing bills / contracts / tax invoices / account details.
In case of sub-brokers / authorized person office, where the premises are neither owned by the stock broker nor are on rent / lease in favor of the stock broker and in such an office the stock broker has no employees on the payroll, Then such premises will not be considered as a place of business of the stock broker.