Indian Government is now seeking tax from banks on free services provided to customers

[Sushubh]

Tax On Free Banking Services: Government May Withdraw Tax Demand On Free Banking Services - Bloomberg Quint

 

[Sushubh]

No GST On Free Services Provided By Banks, Clarifies Government - Bloomberg Quint

 

[Sushubh]

GST On Free Service: Banks Grapple With More Than Rs 15,000-Crore Tax Demand On Free Services

not sure why this is back in news.

 

[Sushubh]

GST | Free services: GST on banks' 'free services' may be passed on to customers

Over the past two months, the tax department has issued preliminary notices to banks seeking to levy goods and services tax on services such as issuing cheque books and additional credit cards, ATM usage and refund of fuel surcharge. The GST notices are separate from those served in April to recover about Rs 40,000 crore in service tax and penalties from all banks.

 

[Sushubh]

Now, Pay GST on ‘Free’ Banking Services Because the Government Wants to Extort More Revenues