GST On Cash Withdrawals, ICU Beds, Clarified By FM Sitharaman

Finance Minister Nirmala Sitharaman, on Tuesday, defended the Government’s way of taming inflation. She said the implied GST rules are not a burden on Indian families. She said, while addressing the MPs in Parliament, she compared the prices that are currently implied to that of UPA implied six months before exiting power. Also during the debate, she also cleared the doubt on what attracts GST and what does not.

GST On Cash Withdrawals Clarified By FM Sitharaman

GST Rules Clarified By Finance Minister Nirmala Sitharaman

FM Sitharaman debunked multiple misinformative news on GST rules being levied on different products and services. She said that GST is not imposed on cheque books for bank customers. Moreover, she explained there is no GST implied on “crematorium, funeral, burial, or mortuary services”, but is only levied on the construction of new crematoriums. Further asserted that there is no GST in case of ICU beds at hospitals.

Clarification On GST Levied On Cheque Books and Cash Withdrawals

While clarifying that there is no GST for the ordinary bank customers for receiving cheque books Sitharaman said, the charges are only levied on the purchase of printed cheque books by the bank from the printers. She busted the myth by saying that there is no GST charge on cash withdrawals from bank accounts.

“I would like to say there is no GST on withdrawing of cash from a bank,” Sitharaman, replying to a short discussion on price rise in the Rajya Sabha. “I want you to kindly take into cognizance that as regards the consumer or the bank client who takes the money, withdraws the money, there is no charge on him,” FM said.

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Explains GST On Hospital Beds And Crematoriums

The Minister made it very clear that there is no GST charge on “crematorium, funeral, burial, or mortuary services” while saying, “The GST Council is accused of having levied charges on the crematorium. You are going to bury your dead, you are being charged…No”.

She further asserted that GST is only applied to the construction of new crematoriums. “So let’s please not be led by misinformation,” Sitharaman said.

“More I listen to issues related to GST, I have a concern that probably the right information is not being reached. And as a result, there’s quite a lot of misconceptions and I would today attempt to clear some of these misconceptions,” FM Nirmala Sitharaman concluded.

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Rishabh Sharma

Rishabh is an experienced content writer and editor, he is working for Viralbake to cover a diversified range of categories. His articles mainly focus on providing information, being a travel guide, educating others, and also making people aware of technology, after all, he is a technophile. When not writing he can be found gaming, watching movies, and travelling.

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