Service Tax on Mutual Fund

[Guest]

Dear sir / Ma'am

there is exemption available to the Mutual Fund Agents or Distributors under mega exemption and what about Mutual Fund,

Are they exempt from service or there is any logic behind the exemption to the Mutual Fund.

if there is any proviso or notification or circular regarding the taxability of Mutual Fund, then please let me know.

Thanking you.

[Rama Krishana]

W.e.f. 1.4.2015 the exemption as above has been withdrawn. See Clarification dated 1.3.2015.

Regarding Taxability, under the scope of negative list era, all services are taxable unless specifically excluded by way of negative list, exemptions etc.

AI Summary

Service Tax Exemption for Mutual Fund Agents Withdrawn as of April 1, 2015; Refer to Clarification Dated March 1, 2015. A discussion was initiated regarding the service tax exemption status for Mutual Fund Agents or Distributors. The query sought clarification on whether mutual funds themselves are exempt from service tax and requested information on any relevant provisos, notifications, or circulars. The response clarified that as of April 1, 2015, the exemption for mutual fund agents or distributors was withdrawn, referencing a clarification dated March 1, 2015. It was noted that in the negative list era, all services are taxable unless specifically excluded through a negative list or exemptions.