Case Law Details
In re Multiples Alternate Asset Management Private Limited (GST AAR Maharashtra)
Whether GST is applicable on the Advisory & Management Fees received in Indian Currency from Domestic Contributors located in India for the Services rendered by the applicant?
The advisory and management fees received by the applicant are for financial services rendered to the AIF as mentioned above. Since the location of both, the applicant and the AIF are in India, the place of Supply is to be determined by applying Sec 12 of the IGST Act, 2017 which is reproduced as under –
“12 (1) The provisions of this Section shall apply to determine the place of supply of services where the location of the supplier of services and the location of the recipient of services is in India.
The applicant in the subject case is supplying financial services to the AIF and such services are covered under Section 12 (12) of the IGST Act, 2017 which is reproduced as under:-
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