With 3 per cent increase in service tax likely after the implementation of Goods and services Tax (GST) from 1 July, the expense ratio of mutual fund houses across the country will also go up by 3 per cent. Expense ratio is the measure of the cost incurred by an investment company to operate its mutual fund.
The GST will, however, benefit small MF distributors having an annual income of upto Rs20 lakh. The government has exempted distributors’ annual earning up to Rs20 lakh from paying service tax.
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