Levy of service tax on the activity of mutual fund distribution ...

High Court Reviews Legality of Service Tax Circular on Mutual Funds Citing Section 37B Proviso of Central Excise Act.

August 5, 2015

Case Laws Service Tax SC

Levy of service tax on the activity of mutual fund distribution - validity of circular - The High Court referred to the proviso to Section 37B of the Central Excise Act, 1944, which categorically states that such kind of circulars cannot be issued - SC

View Source

← Previous Next →

Levy of service tax on the activity of mutual fund distribution ...

High Court Reviews Legality of Service Tax Circular on Mutual Funds Citing Section 37B Proviso of Central Excise Act.

August 5, 2015

Case Laws Service Tax SC

You may also like:

Liability of Service Tax – direct service tax liability or not due to reverse charge on recipient of services – Appellant was not distributor of mutual fund or agent...

The case involved the levy of service tax on various services provided by the appellant. The Appellate Tribunal held that the appellant, as a provider of business...

SEBI has extended the timeline for submission of offsite inspection data by mutual funds from 10 to 15 calendar days from the end of each quarter. This modification to...

SEBI issued a circular to promote ease of doing business for mutual funds investing in commodities and overseas securities. The circular modifies clauses in the Master...

This circular from SEBI outlines the inclusion of mutual fund units under the purview of SEBI's Prohibition of Insider Trading Regulations, 2015, effective November 1,...

Dispute regarding non-payment/short payment of service tax, tax demand and interest u/ss 73(2) and 75, penalties u/ss 77 and 78 of the Finance Act, 1994, and extended...

Payment due for the services rendered to the unitholders prior to the winding up - Even if a distributor renders some services to the unitholders after publication of...

ITAT ruled on capital gains taxation for mutual fund units, determining that units of mutual funds constitute a distinct security category under Article 13(5) of the...

Redemption of units of mutual funds - capital gain or business income - the intention for purchase of mutual funds was only for the purpose of investment and held for...

Interest incurred claimed as a deduction u/s. 57(iii) out of interest earned from mutual funds - In our opinion, unless funds are borrowed for making deposit to earn...

Circular regarding Accounting Framework for new Goods and Services Tax (GST) regime - Circular

The case deals with the applicability of Section 54EC of the Income Tax Act, which provides exemption from capital gains tax if the gains are invested in specified bonds...

The definition of "Specified Mutual Fund" u/s 50AA is proposed to be amended to provide clarity regarding the proportion of investment in debt and money market...

The AAR ruled that the applicant is not eligible to avail Input Tax Credit (ITC) on tax paid for inputs and input services related to mutual fund subscription and...

Levy of penalty u/s 77 and 78 of the Finance Act, 1994 - evasion of service tax - appellant collected service tax from the service receivers but failed to deposit the...

Quick Updates: