A Study of GST on Banking And Insurance Services

Abstract

GST is one of the most important tax reforms in India. Although in force in April 2010, it has been in force since July 1, 2017 due to political issues and conflicts of interest of various stakeholders. This report analyzes the impact of GST (goods and services tax) on India Banking and Insurance Department. This article started with a short description of the historical scenarios and the tax structure of Indian taxation. This report focuses on the impact of GST on banking and insurance.