NISM-Series V-A: Mutual Fund Certification Exam Notes

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  • GST on fees paid on investment management and advisory fees shall be charged to the scheme in addition to the overall limits specified as per the Total Expense Ratio (TER) provisions.
  • GST on all the fees other than investment and advisory fees shall be charged to the scheme within the maximum limit of TER.
  • GST on exit load, if any, shall be deducted from the exit load and the net amount shall be credited to the scheme.
  • GST on brokerage and transaction cost paid for execution of trade, if any, shall be within the limit of TER.
  • The commission payable to the distributors of mutual funds may be subject to GST, as applicable in case of the ARN holder. Such tax cannot be charged to the scheme.
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