Distributors earning over Rs.20 lakh a year can update their GST identification online on AMFI website. These distributors can avail of the benefits of input credit.
GST norms mandates distributors earning over Rs.20 lakh a year have to take GST registration. The limit is Rs.10 lakh for distributors from special states comprising Arunachal Pradesh, Assam, Jammu and Kashmir, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, Tripura, Himachal Pradesh and Uttarakhand.
Distributors can register on their own through AMFI’s website. You will have to key in the ARN code and PAN details. An OTP will be generated and sent to the registered mobile number and email address. You will be required to update state-wise GSTN numbers and upload the registration certificate images.
Alternatively, you can send an email to amfigst@camsonline.com with details of the GST number. You will also have to attach scanned copies of GST registration certificates.
In case you do not have GST identification number, you can obtain it by filing an online application form on the GST registration portal and key in details of PAN, email id and mobile number. Once the platform verifies these three details, you will have to key in details of your distribution business. You can upload the application form online by attaching scanned copies of your documents. You will get your GST registration within three working days.
Currently, the government has put distributors earning less than Rs.20 lakh a year and those who do not have GST registration from GST under reverse charge mechanism (RCM) until March 31, 2019. This means, such distributors will get gross commission.
