We may have to pay tax on the free services provided by the banks.The 'Economic Times' report of 24th April, indicates that the 'Directorate General of Goods and Services Tax'(DGGST) has sent notices to the banks to pay the taxes for the free services provided to the customers of the banks. This tax was claimed with retrospective effect from 2012. The banks had collected penalty from the customers for not maintaining the minimum balance. The DGGST is asking the banks to pay tax on the money so collected and also on the free services given to customers who maintained the minimum balance. The tax demanded is to the tune of 40,000 crores. If the demand by the DGGST is met by the banks, they are sure to pass on the burden to the customers. The government should ask the DGGST to withdraw their demand to the banks immediately and clarify the position to the public. The public has already lost faith in the banks and fearing to deposit their money in the banks. These steps further erode their credibility. The common man is at crossroads as to what to do with their hard earned money and where to deposit it safely.