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registration for mutual fund agents?

Siddharth Dhoot (8 Points)

27 June 2017

Mutual fund agent earning a commission less than 20lakh. Does mutual fund agent required to get registered under GST?

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5 Replies

Vilas Parmar (Auditor) (39 Points)
Replied 27 June 2017

No not required to registered..Mutual fund company is required to GST on reverse charge basis..

Vilas Parmar (Auditor) (39 Points)
Replied 27 June 2017

No not required to registered..Mutual fund company is required to pay GST on reverse charge basis..

Siddharth Dhoot (8 Points)
Replied 27 June 2017

it means company can deduct 18% from commission and pay the balance commission.

Vilas Parmar (Auditor) (39 Points)
Replied 27 June 2017

No company will not deduct GST from your commission..Company will pay GST on your bill amount and credit of GST will be available to Company..
GST required to pay on gross amount..

Prasad PN (President) (25 Points)
Replied 15 July 2017

Understand from Mutual Fund companies - that since the agents are located in different parts of country (inter-state service) the agents are liable for GST irrespective Rs 20 lakh exemption limit. Moreover the MF companies are insisting that they will deduct 18% from agent's commission and pay the balance only as commission. Is it legal and as per GST act?