Trustees of AIFs play a critical role in fund governance. Their fees attract GST at 18%, and the AIF must pay GST under RCM if the trustee is unregistered. Trustee compliance also involves ITC eligibility, documentation, and reporting.
This article explains the GST trustee compliance support for AIFs.
Trustee Fee GST
- Registered trustee: Charges GST on invoice.
- Unregistered trustee: AIF pays GST under RCM.
- Rate: 18%.
RCM Compliance
- Self-invoice issuance.
- Payment voucher.
- Payment through electronic cash ledger.
- Reporting in GSTR-3B.
ITC Eligibility
- ITC on trustee fees if AIF is registered.
- ITC on RCM payment.
- Blocked credits under Section 17(5).
Documentation
- Trustee agreement.
- Invoices and payment proof.
- RCM working papers.
Conclusion
Trustee compliance requires accurate RCM computation, ITC claims, and documentation. A CA firm with fund expertise ensures compliance and optimises tax position.
At Anuj Desai & Associates, we provide GST trustee compliance support for AIFs. Our team handles RCM, ITC, and documentation.
For a confidential consultation, contact us at office@anujdesaiassociates.com or call 9619456656. Visit our website at https://anujdesaiassociates.com or connect with our founder on LinkedIn at linkedin.com/in/ca-anuj-desai-122547230.