 "GST, goods and service tax")
A wide reading of a recent ruling by an indirect tax tribunal pertaining to venture capital funds could open Pandora’s box for all forms of pooled investment vehicles structured as trusts, including real estate investment trusts (REITs), infrastructure investment trusts (InvITs), mutual funds (MFs), and even provident funds.
MFs, for instance, might have to pay about Rs 1,500 crore in additional taxes annually for equity schemes alone, assuming a 2 per cent expense ratio, one per cent management fee on an equity asset base of Rs 10 trillion.
This follows a ruling last month by the Customs, Excise
MFs, for instance, might have to pay about Rs 1,500 crore in additional taxes annually for equity schemes alone, assuming a 2 per cent expense ratio, one per cent management fee on an equity asset base of Rs 10 trillion.
This follows a ruling last month by the Customs, Excise
