https://kailashafoundation.org/questions/effect-of-gst-on-a-companys-bank-account/ Fun & Learn Portal Sat, 29 Jul 2017 05:26:29 +0000 hourly 1 https://wordpress.org/?v=5.2 https://kailashafoundation.org/questions/effect-of-gst-on-a-companys-bank-account/#comment-3522 Sat, 29 Jul 2017 05:26:29 +0000 http://kailashafoundation.org/questions/effect-of-gst-on-a-companys-bank-account/#comment-3522 GST applies to all services where this a supply for consideration. So, in banking transactions such as credit card payments, fund transfer, ATM transactions, processing fees on loans etc., where the banks are levying charges, increased tax rates would apply. This would have a slight inflationary impact,”
Tax on financial services transactions will rise from the current 15% to 18% as the goods and services tax(GST),making them marginally costlier.

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