Finance Minister Sitharaman denies GST on Withdrawal of Cash from Banks

5+5=10 transactions per month are totally free when withdrawn from ATMs, she said.

Finance Minister Sitharaman denies GST on Withdrawal of Cash from Banks
nirmala Sitharaman denies GST on Withdrawal of Cash from Banks

New Delhi: Union Minister of Finance Nirmala Sitharaman on Tuesday, August 2 in Rajya Sabha clears the doubt of GST on cash withdrawal while reviewing the doubt from opposition she mentioned that, there is no GST on cash withdrawal from banks, however, the GST tax will be applicable only on the bank while purchasing cheque books from the printer.

5+5=10 transactions per month are totally free when withdrawn from ATMs, she said.

While discussing the health sector, she added that hospital beds or ICUs, tax only on rooms with Rs 5,000 per day rent have been exempted from GST.

Talking about the Indian Economy, the government has adopted a targeted approach, based on ground-level inputs, to tackle retail inflation which is ruling at around 7 percent. This short-duration debate was held on the price rise where Nirmala Sitharaman gave clear and significant information. 

Fall of Rupee? 

Nirmala Sitharaman also talks about the collapse of the Indian Ruppe value, she quotes, "even there, the performance of the Indian rupee is much better than its own peers, which withstood the impact of the US Fed's decision much better than any other peer currencies".

"And actually, if you compare the Indian rupee versus other currencies, it is appreciating in its manner," said Sitharaman.