How financial services will be taxed under GST

The central board of indirect taxes and customs (CBIC) this week issued a detailed FAQ clarifying queries on the applicability of the goods and services tax (GST) on the financial services sector. Mint takes a look at what this means. Why is this important? The government had formed 18 sectoral groups last year to look into issues faced by various sectors to ensure smooth implementation of GST. Th…