I have completed my GST registration under service provider as a mutual fund distributor and I am also earned brokerage from AMC (Asset Management Company) on last month i.e. August2017, As per AMC guidelines I have downloaded my invoice from AMC website and I have seen the AMC have been generated Tax Invoice with GSTIN number and 18% IGST charged on taxable brokerage value in my letter head. Now my question are who can pay tax? I shall pay directly to Govt. as a distributor or AMC pay tax onbehalf of me, what the actual rules as under GST Act.
I have confused of above circumtances and yesterday a last day for filling return of GSTR-3B, therefore I have already filed my GSTR-3B and offset output tax pay with ITC reverse claim (ITC claimed as based on AMC charges IGST) without pay any tax to Govt. portal. It is correct or not, if not correct how can I modify or adjust our statement of return.
CAclubindia
