Commission-based Mutual Fund Investor's Service Tax Liability Under Finance Act, 1944

The High Court of Rajasthan is considering whether an individual working on a commission basis for investments in mutual funds is liable to pay service tax as a commercial concern under section 65(105)(zzb) of the Finance Act, 1944. The appeal is set for final hearing on 23.8.2017.

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The High Court of Rajasthan admitted an appeal regarding the liability to pay service tax for a period from 1.7.2003 to 1.3.2005. The substantial question of law concerns whether the applicant, who was working as an individual getting investments in mutual funds on a commission basis, can be considered a commercial concern under section 65(105)(zzb) of the Finance Act, 1944. The matter is scheduled for final hearing on 23.8.2017.

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