GST on Fees that Banks charge
I am dismayed that for a bank fee levied, I had to pay GST. That does not seem logical. It is like I pay a fine and a GST on top of that. What good or service did I receive? more
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GST is the most defective and illogical system of tax collection, on every form of business transaction. more
Sep 24
Tiru Narayan Sir, Kotak charges GST and sends a certificate to the account holder on a monthly basis. It is upto him to take the same as input tax in case you also have a GST Registration. more
Sep 24
NPA by Bank n sufferance to the Public. Time to evaluate services rendered n charges applicable. Question arises as to who will evaluate the Banks Service Charges. These R Hurting the Society n RBI should accept the responsibility to Serve the Society. If RBI is not accepting Responsibility then They should advice who is Responsible for Charges n Minimum services to b rendered. Private sector Banks have higher minimum deposits but services R questionable. more
Sep 23
Reg. Deposits - Standing Instructions can be given in writing that on maturity all the Money including the Interest be deposited /credited in the saving account. This - in turn - will be the responsibility of the Bank to credit the amount after maturity to your saving account. Even after the maturity you can encash entire amount without any additional losses BUT the additional Interest of the difference of the time - only. Reg, the ATM you can lodge the complaint in writing and after few complaints can raise the issue with RBI, even to consumer Forum. "Pass book printing machines working" failure of the same Bank is Bound to update then and there itself. If NOT lodge your complaint in the "PRESCRIBED" Complaint book as directed by the RBI. Bank MUST take the remedial measures else penalties up to Rs. 500000/- are imposed for consecutive defaults as evident in few matters. Be alert - Know your Bank as well as your Rights. They are the service provider and you are the Consumer - having FULL right to avail the services. more
Sep 23
Bank charges & service quality are utterly discerning. 1)Private bank are charges exorbitant eg HDFC charges fees if you deposit more than Rs25000. Kotak mahindra bank charges are too heavy.2)Bank of Indias NET banking deactivated for 15 days, if a Senior citizen like me forgets Transaction password. 3)All the banks automatically renew our earnt Fixed Deposits for the same expired duration without our permission/ without informing us. If you ask reply is, "IF you dont encash or change duration within 8 days of deposit maturity, this the rule." If you have forgotten or sick or out of town, they will dilly daly encashment or encash it by charging penalty for the lapsed period.4) If banks ATM is out of Cash or Money Depositing Machine doesnt work, there is no Penalty for the bank, but if you rush to ATM of other bank, charges will be levied.5) Pass book printing machines working or printing/ Statent service for Savings account of PSU banks NOT TO SPEAK OFF. more
Sep 23
