https://www.taxtmi.com/news?id=18228 Implementation of the Goods and Services Tax replaces the existing service tax regime and increases the tax incidence on specified financial and insurance services. Financial services and telecom are moved to a higher GST classification, prompting banks, card issuers and insurers to notify customers that credit card fees, banking charges, premiums, and fund management charges on unit-linked and term policies will be subject to revised GST treatment, and that premium taxation for endowment policies will be adjusted under the new GST framework. en-us Tue, 20 Jun 2017 18:35:48 +0530 Tue, 20 Jun 2017 18:35:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=18228 Implementation of the Goods and Services Tax replaces the existing service tax regime and increases the tax incidence on specified financial and insurance services. Financial services and telecom are moved to a higher GST classification, prompting banks, card issuers and insurers to notify customers that credit card fees, banking charges, premiums, and fund management charges on unit-linked and term policies will be subject to revised GST treatment, and that premium taxation for endowment policies will be adjusted under the new GST framework. News - Tue, 20 Jun 2017 18:35:48 +0530 https://www.taxtmi.com/news?id=18228