How GST will Impact your Personal Finances
The goods and services tax (GST) is slated to come into effect from 1st of July, 2017 and has already created a blend in the consumer overall economy and business sectors as well. However, the brand new initiative is expected to {increase the} entire tax collection procedure and give a major boost to the Indian economy. In compliance with the latest GST news, your financial planners in Delhi NCR will also be impacted by the same. Here's how: Mutual Funds- GST will lead to a small increase in the cost percentage which is charged by mutual funds for finance management purposes. According to experts, managing any finance will be taken as something rendered and hence will experience 15% in service tax and 18% in future once GST comes in. Banking- Most transactions encompassing credit cards payments, processing of lending options in India, cash withdrawals, and fund transfers and so on will be a little more expensive with 18% tax impact. However, in the future, this in