banner_ad

Gst impact on mutual fund distributors

This query is : Resolved 
Profile Image

Profile Image

(Querist)
23 June 2017 Is it mandatory for MF Distributors to register for GST even if the annual TO is less than Rs 20 Lacs, as FAQ from one of the AMC (https://www.miraeassetmf.co.in/mailers/gst_faq/GST_FAQs.pdf) states that all payments under GST will Attract Tax and that there is No Threshold limit that is applicable.
Profile Image

Kishen K Warrier

Profile Image

Kishen K Warrier (Expert)
06 July 2017 As per section 24 of CGST Act, every persons making interstate taxable supply have to get registered irrespective of the turnover.If the MF distributor is in one state and MF head office in another state, the MF distributor will be making an intertstae supply.In such a case, he has to get registered irrespective of the turnover.
As most MF houses have thire HO in Mumbai, Distributors outside Maharshtra will have to get registered under GST.Alternatively ,MFs have decided to deduct GST from the commissions for unregistered dealers and pay it to Govt.This is as per recommendations of Pwc
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
26 May 2026
Education Content Creator

Adyayam Education LLP

Bengaluru

CA Foundation

View Details
Company
11 May 2026
CA Dropout

Patron Accounting LLP

Pune

CA Inter

View Details
Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details
Company
29 May 2026
Finance Head

Bhawar Sales Corporation

Chennai

Graduate (Any)

View Details
Company
14 May 2026
ICSI Trainees for 21 Months and Semi-Qualified CS

CMNITY HIRE

New Delhi

Others

View Details
Company
01 June 2026
Audit, Taxation & Compliance Executive

R P S K & Associates

Nashik

CA Inter

View Details
Company
ARTICLESHIP 27 May 2026
CA Article Trainee

Rahul Dang & Associates-Chartered Accountants

Pune

CA Inter

View Details
Company
14 May 2026
Senior Accounts Executive

Karan Gupta & Co.

New Delhi

Graduate (Any)

View Details