Categories: Bank News

18 per cent GST on bank charges for issue of cheque book and loose cheque leaves

The GST Council has agreed to levy an 18 percent cess on cheques, irrespective of whether they are in loose or in book form with effect from July 18, 2022.
There will be a 5 percent GST if rooms worth more than Rs 5,000 (non-ICU) are rented out in hospitals.
Pre-packed and labeled food items like meat, fish, curd, and paneer will now attract GST. Unpacked food items such as rice and wheat when packed will now also attract GST at 5%.

Other similar items that have now come under the ambit of GST have labeled meat (except frozen), honey, dried leguminous vegetables, dried makhana, wheat and other cereals, wheat flour, jaggery, puffed rice (muri), all goods, and organic manure and coir pith compost.

Here is the list of items that will be costlier due to the higher rate of GST from July 18, 2022
GST at 5 percent
Packed foods — milk, curd, and paneer
Unpacked foods — rice and wheat when packed and bank fee for issuing cheques
Dried leguminous vegetables
Makhana
Wheat or meslin flour
Jaggery
Puffed rice
Organic food
Manure and compost
Ostomy appliances and transport of goods and passengers by ropeways (Earlier 12 percent)
Electric vehicles, whether or not fitted with a battery pack

GST at 12 percent
Hotels charging Rs 1,000 or less per day for a stay
Solar water heaters (Earlier 5 percent)
Finished goods like leather products
Maps and charts, including atlases
Renting of the truck, goods carriage where the cost of fuel is included (Earlier 18 percent)

18 percent
Printing
Writing and drawing ink
LED lamps
Drawing instruments
Tetra packets
Services such as work contracts for roads, bridges, railways, metro, effluent treatment plants, and crematoriums

Surendra Naik

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Surendra Naik

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