Dear Business Associates,
The Government of India has enacted the Central Goods and Service Tax Act as well as the Integrated Goods and Service Tax Act in the Parliament. Subsequently, various states have passed or are in the process of passing the State Goods and Service Tax Act. The Government proposes to implement the Goods & Service Tax (GST) which is likely to be effective from July 1, 2017.
The GST council has already prescribed the rate to be levied on the services rendered by banking and financial services at 18%.
Consequently, the existing service tax rate of 15% shall be replaced by a GST rate of 18%. The effective date will be as per the date announced by the Government.
We assure you a smooth transition to GST and the best of our services at all times.