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GST on withdrawing money from banks? What did Finance Minister Nirmala Sitharaman say on this?


Bright Times News: On Tuesday, Finance Minister Sitharaman stated that there is no GST on bank cash withdrawals. “There is no GST on cash withdrawals from banks… 5+5=10 transactions on ATM withdrawals in a month are free,” Finance Minister Nirmala Sitharaman stated in the Rajya Sabha.

He claimed that the only bank subject to GST will be the one that purchases checkbooks from the printer.

On customer checks and bank cash withdrawals, he claimed, there is GST. In addition, he stated that ICU rooms and hospital beds that are rented for less than Rs 5,000 per day are exempt from GST.

Additionally, it stated that loose food items are exempt from GST. “Only things that are pre-packaged and labeled are subject to the 5% tax.” There was not a single speaker who spoke against the idea to impose a 5 percent GST on pre-packaged, labeled food items among the states in the GST Council.

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Nirmala Sitharaman on Indian Economy

In retail inflation, which is now hovering around 7%, the government has adopted a focused strategy, according to Finance Minister Nirmala Sitharaman.

The minister was responding to a quick-fire debate in the Rajya Sabha about pricing increases.

Sitharaman stressed that the foundation of the Indian economy is strong.

He asserted that the Indian economy is unquestionable “far better” than that of peer group nations and even developed nations.

No depreciation in rupee:

Nirmala Sitharaman, the Union Finance Minister, claimed on Tuesday that the value of the Indian rupee has not decreased and that it has performed better versus the US dollar than other significant world currencies.

The Indian rupee fared far better than its peers there as well, reflecting the impact of the US Fed’s decision better than any other comparable currencies, the Finance Minister said in response to a question in the Rajya Sabha. has been harmed.

Sitharaman responded to a question posed by Trinamool Congress MP Luizinho Joaquim Faleiro during Question Hour in the House by saying, “And act you compare the Indian rupee to other currencies, it is appreciating in its fashion.”

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