https://www.taxtmi.com/article/detailed?id=12944 Incentives from AMCs to mutual fund distributors are not taxable in the distributor's hands because Rule 2(1)(d)(vi) places liability on the mutual fund/AMC as service recipient under the Reverse Charge Mechanism; advertisement revenue from the distributor's magazine is excluded from sale-of-space taxation as it falls within the Print Media Exemption; and training of sub-distributors qualifies as vocational training exempt under the service tax notification, so commercial training tax does not apply. en-us Fri, 20 Sep 2024 10:04:47 +0530 Fri, 20 Sep 2024 10:04:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=12944 Incentives from AMCs to mutual fund distributors are not taxable in the distributor's hands because Rule 2(1)(d)(vi) places liability on the mutual fund/AMC as service recipient under the Reverse Charge Mechanism; advertisement revenue from the distributor's magazine is excluded from sale-of-space taxation as it falls within the Print Media Exemption; and training of sub-distributors qualifies as vocational training exempt under the service tax notification, so commercial training tax does not apply. Articles Service Tax Fri, 20 Sep 2024 10:04:47 +0530 https://www.taxtmi.com/article/detailed?id=12944