Mutual fund distributor only help investor complete financial/non financial transactions in MF schemes on behalf of AMC, just like employee of AMC. Instead of salary s/he is paid commissions out of expenses charged to scheme by AMC. AMC pays GST on the expense charged by them to investor. It automatically includes GST paid on commission to MFD. Hence charging GST additionally to MFD on commission amounts to double taxation. Therefore commission paid to MFD should be exempt from GST.

Suggested changes to GST Laws continued: 4. All food products whether sold loose or branded should be exempt from GST 5. The GST rates should be 0, 5, 10, & 15 without input tax credit.

Suggested changes to GST Laws: 1. Abolish 18% GST on Cooperative Housing Societies as there was no Service Tax so Why 18% GST? 2. Reverse the amendment in GST Act defining Housing Society as a separate entity thus over riding the Principle of Mutuality applicable to housing societies. 3. Remove the provision of input tax credit as it is resulting in to fraudulent claims and end consumer is not getting benefit of low cost. Instead reduce the GST Rates on end products.

#GSTAmendment by letter. From Vizianagaram Tax Bar Association

we Request the following amendment
After the words cost accountant “ or a GSTP having 5 years of experience (as STP) and passed the examination conducted by NASIN and shall submit a copy of audited annual accounts......

As a Mutual Funds income, we don't charge and no input credits.
If we calculate total tax, it is 18% GST + 30.90% INCOME TAX + 18% Approximately we pay on our Purchase, so Total we're paying 66.90%.

So, I urge honorable Prime Minister to remove GST for Mutual Funds commission.

Govt should re-open trans1 form to those dealer who were not able to submit/file tran1, at least to those dealer who have keyed in the details but could not submit. Govt cannot enrich with not allowing the transitional input credit which is due to the dealer due to some technical glitch.
There should be option to revise the GSTR 3B return.

" we Request the following amendment
After the words cost accountant “ or a GSTP having 8 years of experience (as STP) and passed the examination conducted by NASIN and shall submit a copy of audited annual accounts......"

दुकान पे बाहर नम्बर न लिखे मिलने पे 25000 की पिनाल्टी का प्रावधान है।यह पेनाल्टी हटानी चाहिए।उसकी जगह चालान का प्रावधान होना चाहिए।3 चालान पे 5000 पेनाल्टी।इसकी वजह से अधिकारी आकर व्यापारी को प्रताड़ित करता है और घूस लेने की शिकायत आ रही हैं।
अभिमन्यु गुप्ता
प्रदेश अध्यक्ष
प्रान्तीय व्यापार मण्डल
कार्यालय: पीताम्बरा,नवशील अपार्टमेंट,56,कैंट,कानपुर
मो.7275797979
ईमेल:prantiyavyaparmandal@gmail.com

Mutual fund distributor only help investor complete financial/non financial transactions in MF schemes on behalf of AMC, just like employee of AMC. Instead of salary s/he is paid commissions out of expenses charged to scheme by AMC. AMC pays GST on the expense charged by them to investor. It automatically includes GST paid on commission to MFD. Hence charging GST additionally to MFD on commission amounts to double taxation. Therefore commission paid to MFD should be exempt fr