https://www.taxtmi.com/caselaws?id=381642 AAR Maharashtra ruled that GST is leviable on advisory management fees received by fund manager from both domestic and overseas contributors. For domestic contributors paying in Indian currency, GST applies under Section 12 IGST Act as both supplier and recipient (AIF) are in India. For overseas contributors paying in foreign currency, GST still applies under Section 12(12) since services are provided to AIF located in India, not directly to overseas contributors. The transaction doesn't qualify as export of services as recipient AIF is in India, failing zero-rated supply conditions. en-us Wed, 06 Mar 2019 00:00:00 +0530 Mon, 10 Mar 2025 11:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=381642 AAR Maharashtra ruled that GST is leviable on advisory management fees received by fund manager from both domestic and overseas contributors. For domestic contributors paying in Indian currency, GST applies under Section 12 IGST Act as both supplier and recipient (AIF) are in India. For overseas contributors paying in foreign currency, GST still applies under Section 12(12) since services are provided to AIF located in India, not directly to overseas contributors. The transaction doesn't qualify as export of services as recipient AIF is in India, failing zero-rated supply conditions. Case-Laws GST Wed, 06 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=381642