Applicability of service tax on entry and exit load charged by the Mutual Fund - reg

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.... on 'asset management and all other forms of fund management' under the category of 'banking and other financial service'. In this context a question has arisen as to whether the service tax would be chargeable on the 'entry and exit load' amount charged by a mutual fund to the investor. 2. The issue has been examined by the Board. 'Mutual Fund' statutorily means a fund established in the form of....

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....he recurring expenses : These expenses are incurred on fund management fee to Asset Management Company, brokerage, trustees fee, expenses on account of stationery, postages, advertisements, listing on exchanges, publishing of Net Asset Value (NAV), distribution charges, custodian charges, audit fee ,etc. 4. In terms of the Tenth Schedule to the SEBI (Mutual Fund) Regulation, 1996, the initial iss....