GST impact: Insurance premium, bank charges to increase

The impending implementation of GST would undoubtedly impact one’s personal finances especially when it comes to financial services , albeit marginally. From the present rate of 15 percent, the GST on banking , insurance and investments such as real estate, mutual funds will see a hike of 3 percent as the GST will now be 18 percent on them. Let’s see how each of them gets impacted. GST and Insuran…