about mutual fund agent service

[vikas sharma]

sir,

I am mutual fund agent. hdfc ,reliance like some companies asked me to take registration in sevice tax and deposit service tax on commisson paid by these companies and realese bills for it but they will not give any service tax extra they said it is your duty to pay it irom your commisson recieve from us. which we have to pay you. is it true.

kindly suggest me r in which service i will take registration.

AI Summary

Mutual Fund Agents Must Register for Service Tax on Commissions if Turnover Exceeds 10 Lakhs; Clarify Tax Inclusion A mutual fund agent inquired about service tax obligations on commissions received from companies like HDFC and Reliance. The companies advised the agent to register for service tax and pay it from the commission without additional compensation. Responses clarified that as of April 1, 2016, the responsibility for service tax shifted entirely to service providers, requiring registration if the turnover exceeds ten lakhs. It was suggested that the tax payment depends on whether the commission includes tax. The agent was advised to classify the service appropriately for tax purposes.