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Prepare Yourself to Pay More for Banking Services Including ATMs, Cheque Books

December 04, 2018

Prepare Yourself to Pay More for Banking Services Including ATMs, Cheque Books

Banking customers will soon have to shell out more money for banking services as many of the facilities such as ATM cards and checkbooks that are free today will become chargeable soon. 

On several occasions in the past few months, the income tax department had sent notices to the banks asking them to impose GST on services like ATM usage, issuing additional ATM cards and checkbooks, etc. Although most banks have agreed to start levying an 18% GST on these services, they say they will do so after considering the demand of these services first.

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