GST on banks' 'free services' may be passed on to customers

Faced with the prospect of paying  goods and services tax ( GST ) on ‘free services’ provided to  customers who maintain a  minimum balance in their accounts, top lenders including State Bank of India, ICICI Bank and HDFC Bank are considering passing on this cost to them. Over the past two months, the tax department has issued preliminary notices to  banks seeking to levy goods…