Before we dive into the impact of GST i.e. Goods and Services Tax, let’s take a look at what exactly GST is and why has it been introduced. GST Goods & Services Tax or GST is a single tax that will be applicable to supply of goods and services from the manufacturers to the end consumers. GST will essentially be charged only on the value addition at each stage, in between the manufacturer and the end user, and the consumers need to bear the GST charged only by the last dealer in the supply chain. With the implementation of GST, the government is expecting to streamline the current scenario of the indirect tax regime which will replace not just the central indirect taxes but also state level indirect taxes. Impact of GST on the Banking Sector With the implementation of GST, service sector companies will be impacted more than the manufacturing or trading sector companies. Banking, being one of the largest service sectors in India, will see the impact of GST highly