The 31st Goods and Services Tax ( GST ) Council has exempted the services provided by Banks to the basic savings bank accounts and the accounts created under the Government’s Pradhan Mantri Jan Dhan Yojana.
After the GST Council meeting, the Union Finance Minister, Arun Jaitley has clarified that the services supplied by banks to Basic Saving Bank Deposit (BSBD) account holders under Pradhan Mantri Jan Dhan Yojana (PMJDY) shall be exempted.
A Notification in this regard may be issued by the Central Board od Indirect Taxes and Customs (CBIC) shortly.
