Mutual funds get GST notices for exit load from 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 GST on exit-load charges.

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