News From Press GST: Phone bills, insurance and banking to cost more

GST: Phone bills, insurance and banking to cost more

Source: Business Standard May 20, 2017

Availing insurance, banking services, investing in mutual funds and paying mobile bills will get costlier with the GST Council setting a rate of 18 per cent for telecom and financial services. But, while telephone bills will surely rise, analysts are divided over to what extent financial services companies will pass on the increased tax rate to clients.

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