Mutual funds get GST notices for exit load
Financial Express Mumbai|March 21, 2024
THE DIRECTORATE GENERAL of Goods and Services Tax Intelligence (DGGI) has sent show-cause notices to a number of mutual fund (MF) companies in recent weeks, seeking to recover a tidy sum from them as Goods and Services Tax (GST) on exitload charges.
PRIYANSH VERMA

According to an official source, the amount being sought to be recovered from the MF firms could be over ₹150 crore.

Though the GST department "clarified" in 2018 that GST must be paid at 18% on exit load, most firms haven't yet complied with the directive. The current set of notices are with respect to over 100 MF schemes, and at least ₹10 crore has already been collected by the taxman as a few firms have opted to pay up.

The MFs that have received the GST notices include Nippon India Mutual Fund, Kotak Mahindra Mutual Fund and ICICI Prudential Mutual Fund, among others.

هذه القصة مأخوذة من طبعة March 21, 2024 من Financial Express Mumbai.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

هذه القصة مأخوذة من طبعة March 21, 2024 من Financial Express Mumbai.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

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