BSE brokers seek clarity from SEBI over commission paid by mutual funds
Forum said that the commission of 12 basis points is exclusive of statutory charges. The inclusion of service tax in the 12 basis point brokerage is killing the industry as the margins are wafer thin and from June 1, the rise of 50 basis points in service tax will further dent the margins, said Siddharth Shah, President of the BSE Brokers Forum in the letter.
BSE Brokers Forum has sought clarity from the market watchdog SEBI on the commission paid by mutual fund houses to brokers. Photo : IANS