AMFI urges MFDs to update their GST details immediately

AMFI has urged GST registered mutual fund distributors (MFDs) to update their GST details immediately after observing that many distributors had not submitted their GST registration details to the association.

AMFI said this could limit commission payments to MFDs only to the extent of base brokerage, i.e., net commission after deduction of 18% GST.

Registered MFDs have been asked to submit their GST registration details, which will enable AMCs to release the GST portion of the commission, subject to the submission of a valid GST invoice.

From April 1, 2026, it is recommended that AMCs pay base commission to both GST-registered and unregistered distributors. However, the GST component will be paid only to GST-registered distributors upon submission of a valid tax invoice.

MFDs can update their GST details by visiting AMFI’s portal.

Go to your profile and log in using the details used for ARN/EUIN registration and renewal.

Source : https://cafemutual.com/news/industry/37662-amfi-urges-mfds-to-update-their-gst-details-immediately