The Five Per Cent Hit

O
Outlook News Desk
Updated on:
Published at:

Where and how does the 5 per cent service tax increase your bill?

image Prefer on Google
The Five Per Cent Hit
  • On all fees, joining or annual. Along with an annual fee of, say, Rs 750, you pay an extra Rs 37.50.
  • On fees of cash advances and drafts. If you withdraw/make draft for Rs 10,000, you pay Rs 250 (at the rate of 2.5 per cent or more depending on your card type) as transaction fee, plus another Rs 12.50 as tax on the fee.
  • On your unpaid or revolved balance. If on a balance of Rs 10,000 you decide to pay Rs 5,000 and revolve the remaining Rs 5,000 to next month, you pay Rs 125 (at 2.5 per cent) plus Rs 6 as tax on the interest.
  • On late payment charges varying from Rs 75 to Rs 500

    • Tags

      • image
      • image
      • image

      RELATED STORIES

      More From the author

      Watch

      Photos

      ×

      Latest Sports News

      Trending Stories

      Latest Stories