ENTRY/EXIT LOAD TO BE TAXED
The Central Excise Department indicated that service tax will be applicable on entry and exit loads
linked to Mutual Fund (MF) schemes. The load is charged over and above the net asset value of the mutual fund scheme. Tax on entry load would amount to double taxation since distributors brokerage is paid after deducting the service tax.
linked to Mutual Fund (MF) schemes. The load is charged over and above the net asset value of the mutual fund scheme. Tax on entry load would amount to double taxation since distributors brokerage is paid after deducting the service tax.
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