Prateek Jotwani (student) (201 Points)
11 August 2011
My client is a mutual fund distributor he receives commission income on it. As per service tax rules a reverse charge is creater the mutual company say uti mutual fund deducts its service tax while paying commission to it. So my query is whether can i take credit of the service tax deposited by mutual fund company on my behalf.
CA Unnikrishnan Nair N
(Chartered Accountant)
(2083 Points)
Replied 11 August 2011
No. Here the service receiver is the mutual fund and only the nutual fund can take credit subject to fulfillment of other conditions.
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