GST on Mutual Fund Agent

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..... GST on Mutual Fund Agent
Query (Issue) Started By: - SUBRATA RAY Dated:- 19-4-2023 Last Reply Date:- 20-4-2023 Goods and Services Tax - GST
Got 3 Replies
GST
What will tax incidence of mu .....

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..... tual fund agent after crossing threshold limit whether tax will be charged by forward mechanism or tax will be levied by RCM by recipient company Reply By Amit Agrawal: The Reply: Services by mutual .....

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..... fund agents are not under reverse charge mechanism. These are ex facie views of mine and the same should not be construed as professional advice / suggestion. Reply By Alkesh Jani: The Reply: Shr .....

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..... i In agreement with the views expressed by expert Shri Amitji, I wish to add that the service of mutual fund agent is classifiable under HSN Code 997152: Brokerage and related securities and commodit .....

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..... ies services including commodity exchange services and includes services of acting as a selling agent of units, shares or other interests in a mutual (investment) fund. In view of above, tax is payab .....

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..... le by the person acting as an agent, if threshold limit is crossed. Thanks Reply By Padmanathan Kollengode: The Reply: Agreed with the views of experts. Mutual Fund Agent will have to get registere .....

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..... d and pay GST by forward charge.
Discussion Forum - Knowledge Sharing .....

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