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GST for Distributors.
No. of Comments: 33
By Deepak K Khurana, Pulgaon, 15783 On 18-Jun-2017
The services provided by Mutual Fund agent/distributor to a Mutual Fund or Asset Management Commission, are being made taxable under forward charge with effect from April 1, 2016. The Small scale exemption i.e. threshold turnover of Rs 10 lakh per year is available to the Mutual Fund agent/distributor, subject to fulfillment of other conditions prescribed, These is regarding Service tax. What conditions will be applicable regarding GST & when we will have to Register for GST.


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Posted by Prasad on 06-Aug-2017 ARN NO :44107 City :Pondicherry
Channel Friendly AMCs needed One of my principal company to prove that they are channel friendly has done the following steps under GST 1. They have taken a branch GST registration in each state including Pondicherry 2. They have advised me to raise invoice for the commission as below Example Commission let say is Rs 10,000 CGST/SGST 9% each Rs 1,800 My commission is intact and there is no reverse charging involved in this. Hope AMCs will follow this good practice and bail out IFAs from 18% loss in their hard earned commission. AMCs should not deduct 18% from IFA''s commission and claim that amount as input credit against the GST payable by AMC.

Posted by Lakshya wealth services on 05-Aug-2017 ARN NO :111483 City :delhi
it is obvious that, GST have made the distributors path so difficult as one side SEBI is segrigating advisory from distribution and on other side distributiors crying commission would be penalised for compulsory tax burden of 18% specially for those falls under the IGST.

Posted by suhas kokadwar on 04-Aug-2017 ARN NO :56071 City :parbhani
sir, I am mutual fund distributors working since last 8 year. My all AMC commission recived last year Rs 650000. So under GST registration me compalsary or not. I not register under GST AMC less 18% commission or register not less 18 %. As per low above 20 lac commission on GST. How monthly gst return to be filed and pay tax ?

Posted by girish prasad on 16-Jul-2017 ARN NO :54441 City :kalyan
now we have to pay gst 18%.previously it was zero due to 60000 per year income .Now from this sixty thousand we have to pay around 10800 is to be given to govt. it is wrong. highest percent of rise in tax due to GST is on person like us and that is 18 percent. to whom we should complain.

Posted by Vishvas on 16-Jul-2017 ARN NO :104545 City :Mumbai
Businesses with turnover of up to Rs20 lakh (Rs 10 lakh in special category states) are exempt from GST. “If one is carrying out any business and has an annual aggregate turnover in the preceding financial year exceeding Rs20 lakh, you need to register in all the states/union territories from where you are making taxable supplies,” it said. No need to register for GST, If turnover below 20Lac.

Posted by venkateswaran on 15-Jul-2017 ARN NO :26477 City :chennai
Mutual fund distributor forced investor to come out from the amcs. (Those don*t need commission), to avoid monthly return charges of rs.1500/per month. (Only small IFA).yearly it will come around 18 to 20 thousands.Iam a ifa doing only small commission, which will not meet the filing charges. No use of being as a agent. Investor can go for corporate distributor for their need. I don* t know nothing about gst. NO AGENCY NO COMMISSION NO SERVICE TAX.CAN CANCELL THE REGISTRATION..CAN ABLE TO DO SOME OTHER WORK FOR THEIR BREAD.

Posted by venkateswaran on 15-Jul-2017 ARN NO :26477 City :chennai
How mnthly gst return to be filed and how?

Posted by venkateswaran on 15-Jul-2017 ARN NO :26477 City :chennai
Sir, Registered as pper amfi.instruction in gst.My income from mutual fund commission below Twenty Thousand per year.Ihope no service tax on commission. IS I have to monthly return . In what format and when and how to do it.pl.inform. Venkateswaran

Posted by PRAVAR NIGAM on 08-Jul-2017 ARN NO :67232 City :KANPUR
Dear Every IFA has to register GST there is no exception to anybody. As soon as possible register for GST. https://reg.gst.gov.in/registration/ is the site for that.

Posted by Bikram Bhattacharjee on 07-Jul-2017 ARN NO :114190 City :KOLKATA
How do i start the process of registration for GST? How do i get my GSTIN no. and where do I find the image to upload in the amfi site?

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