Its short detail about the GST effects on banking sectors and the benefits and disadvantage of the GST

2.  GST - Goods and Service Tax is an indirect tax
levied on the supply of goods and services.
Simple sense - This law is launched
to replaced many indirect tax laws that
previously existed in India.

5. 1. Widespread number of branches;
registration a hassle
2. Input Tax Credit leveraged and de-leveraged.
3. Assessment and Adjudication.

6. buying
raw
material
VAT
MANUFACTUR
E
VAT+EXCISE
DUTY
SALE TO
WHOLESALE/
WAREHOUSEIN
G
VAT
SALES TO
RETAILERS
VAT
FINAL
SALES TO
CUSTOMER
S

7. 1. Separate registration for each braches.
2. Determining Place of Supply Could be
Critical.
3. Changes in interest rate.
4. Paying GST at Applicable Rate.

9.  Loan Processing Charges / Origination Charges.
(Non-Refundable)
 Prepayment Charges.
 Repayment Mode Swap Charges.
 No Objection Certificate.
 Loan Cancellation Charges.
 EMI Bounce Charges.

10. • Prepayment charges 2% - 5% (personal loans)
• Affordable housing scheme 12% - 18%
• ATM transaction are became limited.

11.  All the bank need to register for their all office
location.
 maintain separate books - control - input tax
credit and utilized and unutilized credit.
 Issuing bill for every each transaction.

12.  There will be only one tax in any banking
transaction.
 Smooth flow of banking access.
 Demand of up gradation of every system,
along with the ATM machines and transaction
system.
 Customers can transfer amount almost any
part of India. If they have account.

13.  There has been a drastic change in the basic
functioning of every banking sector
 There are some criticizing factors and also allot
of well constrictive controlling steps.