Thanks to GST, some goods and services have become costlier while others have turned cheaper. Hailed as India’s biggest tax reform, GST ensured that India becomes a unified market with a single tax structure across states. However, many businessmen found this difficult to comply with and certain section of the common people now has to pay more taxes. However, it should be noted that certain commodities are not taxed at all and primary tax slabs have been made for certain items. Gold and jewellery would be taxed at a concessional rate of 3% and rough diamonds will attract 0.25%. Certain essential items have also been kept away from GST.
A GST calculator can be used to calculate taxes on various items. Food items like unpacked food grains, unbranded atta, maida, besan, fresh vegetables and fruits, salt, food at small restaurants, cutlery, ketchup, sauces, and pickle have become cheaper. Likewise, soap, hair oil, and toothpaste are also cheaper. Other things which are now cheaper include, airfares for economy class travel, bikes or scooters with engine capacity below 350cc, SUVs, household utensils like pans and pressure cookers, footwear and apparel, and so on.
On the other hand, the things which turned more expensive include, food items like packaged/branded coffee, fine dining restaurants, shampoos, deodorants, airfare for business class and train tickets, bikes with an engine capacity of over 350cc, household appliances like TVs, refrigerators, ACs, washing machine, courier services, mobile phone tariffs, insurance premiums, banking charges, broadband services, etc.
Salt, eggs, milk, buttermilk, unpackaged curd, natural honey, fresh fruits and vegetables, flour, besan, bread, lassi, unpacked paneer, fresh meat, fish, chicken, vegetable oil, contraceptives, bangles, stamps, newspapers, vegetables, judicial papers, printed books, are some of the things which continue to be GST-free. The different GST rates of 5%, 12%, 18%, and 28% are levied on different products and services.
A GST calculator can be used to calculate taxes on various items. Food items like unpacked food grains, unbranded atta, maida, besan, fresh vegetables and fruits, salt, food at small restaurants, cutlery, ketchup, sauces, and pickle have become cheaper. Likewise, soap, hair oil, and toothpaste are also cheaper. Other things which are now cheaper include, airfares for economy class travel, bikes or scooters with engine capacity below 350cc, SUVs, household utensils like pans and pressure cookers, footwear and apparel, and so on.
On the other hand, the things which turned more expensive include, food items like packaged/branded coffee, fine dining restaurants, shampoos, deodorants, airfare for business class and train tickets, bikes with an engine capacity of over 350cc, household appliances like TVs, refrigerators, ACs, washing machine, courier services, mobile phone tariffs, insurance premiums, banking charges, broadband services, etc.
Salt, eggs, milk, buttermilk, unpackaged curd, natural honey, fresh fruits and vegetables, flour, besan, bread, lassi, unpacked paneer, fresh meat, fish, chicken, vegetable oil, contraceptives, bangles, stamps, newspapers, vegetables, judicial papers, printed books, are some of the things which continue to be GST-free. The different GST rates of 5%, 12%, 18%, and 28% are levied on different products and services.
No comments:
Post a Comment