Most MF distributors yet to furnish GST number to Amfi

According to sector sources, around 6,000 distributors have registered their GST number

Mutual fund distributors have been quite slow in providing their Goods and Services Tax (GST) numbers to the Association of Mutual Funds in India (Amfi), even though a month has passed since the new levy was implemented on July 1.

According to sector sources, only about 6,000 distributors out of nearly 90,000 have furnished their GST numbers. Amfi had asked the distributors to provide their GSTN by July end, failing which, fund houses would deduct 18 per cent from their brokerage fees. 

Sector officials attribute the slow pace in GST submission to the fact that a majority of the distributors