WHY WE SHOULD PAY SERVICE TAXNo. of comments:8 KUMARASWAMY, BANGALORE, 1622 On 15-Jan-2016As per the statute service tax is payable by the receiver of services. But only exception is MF Distributor where service provider is made to pay. No point in waiting for external agency to come to the rescue. ST rates will definitely go up in years to come to match the GST rates.
Even if we are 10000 active IFA's, by contributing Rs.1000 each we can generate a corpus of 1 crore and fight the case in a court. Recently Lottery Agents have done the same.
This is high time that IFA Association should take the lead. Also a petition should be filed with MOF to come out with clarificatory note in the coming Budget.