AAAR: Sets aside AAR ruling on GST implications on Investment Advisory and Management fees, being outside jurisdiction
Maharashtra AAAR sets aside AAR ruling, holds that no ruling can be pronounced w.r.t. taxability of Investment Advisory and Management Fees collected from overseas investors as question involves determination of the ‘place of supply’ in respect of overseas transaction; AAR earlier ruled that Advisory & Management fees received by the appellant from contributors, for financial services rendered to Alternate Investment Fund (AIF) is liable to GST at 18% and does not qua...