Removal of GST on average minimum balance penalty charged by Banks

Removal of GST on average minimum balance penalty charged by Banks

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Vamsi Krishna Reddy Neelam started this petition to Arun jaitely

I Neelam Vamsi Krishna Reddy

9 April 2019

Petition to Arun Jaitely for removal of GST on average minimum balance penalty charged by Banks

India is Successfully implementing the GST.

Data in the public domain show

PSU banks have reportedly collected Rs 2320.96 crore in FY18 by imposing a penalty on customers who do not maintain their minimum monthly average balance (MAB).

PSU Banks collected 2320.96 crores and for this collected GST nearly 417.6 crores 18% slab.

According to a report in The Indian Express, country's largest lender, the State Bank of India has reportedly earned Rs 1,771 crore in penalties by levying charges on non-maintenance of monthly average balance. The figure exceeds SBI's July-September quarter net profit of Rs 1,581.55 crore.

Banks imposed penalty on customers who do not maintain their minimum monthly average balance. They didn’t have sufficient money to survive. from them collecting 18% GST on penalty. After long struggle These people (customers fail to maintain MAB) ask someone a simple loan of 5000 or something get the loan for interest finally when loan credited in account here the penalty and GST is debited for example penalty is 500 than the GST is 90 total 590 rupees is debited customer have remaining of 4410 rupees only.

Even they didn’t buy anything they are liable to pay GST.

This is very shameful.

If government is committed to help people at least please remove GST on penalty it gives some relaxation for customers who didn’t maintain MAB.

 


Thank you 

 


Please sign my petition to help someone who really poor and unable to maintain MAB.

Friends if you think this is helpful to someone please do forward and it will reach to our GST council and Respected Arun Jaitely sir.

Dear friends make it happen with big number of signs.

 

 

 

 

 

 

0 have signed. Let’s get to 200!
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