CHECK BOOKS,CHARGES ON TRANSACTIONS

 

Mumbai,April 25,(globelmedianews.com):
After the ban of the Notes, This time free ATM transactions,Check books,Banks are going to have to pay for charges on Transaction.This is because banks have to pay taxes.Charges are charged on the customer to replace this burden.The Directorate General of Goods & Services Tax (DGGST) has already issued notices to the banks for the payment of taxes.


CHECK BOOKS,CHARGES ON TRANSACTIONS

However, it is a summary of these notices to pay taxes on free services offered to customers who maintain minimum cash balances in accounts.The amount of tax payable by banks is more than Rs 6,000 crore.It is possible to clarify the amount of tax after considering the amounts collected by the banks in the form of penalties from the minimum cashless account holders.If the banks have to pay their dues, it is a good thing that the customers' pockets will be spoiled.This will allow you to increase the charges on all ATM transactions, check book and debit cards.These services are currently available for free. However, banks have the option of charging the burden on taxes through taxes. SBI, HDFC, ICICI, Axis Bank and Kotak Mahindra Bank have already received notices. DGGSTI is engaged in sending notice to other banks. These notices have been issued for the past five years. This value is worth over Rs 6,000 crore, combined with the amount to pay before the GST. Banks are concerned about this. The issue is likely to be discussed by the Department of Income Tax (IT) on this issue. Banks feel that the matter should be taken to the government if necessary.

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