Impact of GST on credit card charges, mutual fund exit loads

If you were stumped to read that you will now be paying goods and services tax (GST) on your mutual fund exit load, you are not alone. The frequently asked questions (FAQs) issued by the Central Board of Indirect Taxes and Customs (CBIC) reveals the impact of GST on some financial services. The FAQs explain tax implication on various charges, penalty and fees such as “exit loads” charged by mutual…