As per the SEBI guidelines, our clients are entitled to a refund for the unexpired service tenure in case of a premature termination of our investment advisory service agreement. Kindly note that a breakage fee amounting to the fee of one quarter & the GST amount shall remain excluded from the refund amount. The Following samples can be referred to for better clarity:
Ex 1: The client has paid subscription amount of Rs. 59000 for the next two quarters on 1st April and does not want to continue the services. He raises a refund request on 5th April then the following computation will be applicable:
Fee Paid (Including GST) | GST (18%) deduction | Breakage fee deduction (1 Quarter) | Fee for service utilised (5 days) | Applicable refund |
---|---|---|---|---|
Rs. 59000 | Rs. 9000 | Rs.25000 | Rs. 1389 | Rs. 23611 |
Fee Paid (Including GST) | GST (18%) deduction | Breakage fee deduction (1 Quarter) | Fee for service utilised (35 days) | Applicable refund |
---|---|---|---|---|
Rs. 59000 | Rs. 9000 | Rs.25000 | Rs. 9722 | Rs. 15278 |
Ex 3: The client has paid subscription amount of Rs. 59000 for the next two quarters on 1st April and does not want to continue the services. He raises a refund request on 5th July then the following computation will be applicable: