GST on Mutual Fund Agent

[SUBRATA RAY]

What will tax incidence of mutual fund agent after crossing threshold limit whether tax will be charged by forward mechanism or tax will be levied by RCM by recipient company

[Amit Agrawal]

Services by mutual fund agents are not under reverse charge mechanism.

These are ex facie views of mine and the same should not be construed as professional advice / suggestion.

[Alkesh Jani]

Shri

In agreement with the views expressed by expert Shri Amitji, I wish to add that the service of mutual fund agent is classifiable under HSN Code 997152: Brokerage and related securities and commodities services including commodity exchange services and includes services of acting as a selling agent of units, shares or other interests in a mutual (investment) fund.

In view of above, tax is payable by the person acting as an agent, if threshold limit is crossed.

Thanks

[Padmanathan KV]

Agreed with the views of experts. Mutual Fund Agent will have to get registered and pay GST by forward charge.