My client is a mutual fund distributor he receives commission income on it. As per service tax rules a reverse charge is creater the mutual company say uti mutual fund deducts its service tax while paying commission to it. So my query is whether can i take credit of the service tax deposited by mutual fund company on my behalf.
No. Here the service receiver is the mutual fund and only the nutual fund can take credit subject to fulfillment of other conditions.
K R Kiran Kumar & Associates
Bengaluru
CA Inter
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Mumbai
CA Inter
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Synergy Keystone
Mumbai
CA
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CCI
Pro
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