Here’s what’s dearer and cheaper after GST roll out

Read full story
The Goods and Services Tax (GST) regime is now a reality and India has ushered into the biggest tax reform since independence.

From now on, India has come under one tax regime and subsumed more than 10 central and state taxes.

The GST council has decided rates between 5 and 28% with 12% and 18% being the standard rates.

With the new tax system, this will impact more than 1200 items and only six categories have been exempted. Daily consumption items such as fruits, vegetables, milk, butter, etc are out of GST.

Here are the items that will expensive and cheaper with GST rates:

{{}}

View As: One Page Slides

​GST Rate: 5%

​GST Rate: 5%

Frozen food items, tea, coffee, footwear upto Rs 500, apparels up to Rs 1000 will attract 5% GST. Building materials such as bricks and sand will fall under this tax slab. Hotels having tariff between Rs 1,000 and Rs 2, 500 will also attract 5% GST.

​GST Rate: 12%

​GST Rate: 12%

Non-AC hotels, business class air tickets, work contracts, ayurvedic and homeopathy medicines, mobile phones will fall under this category.

​GST Rate: 18%

​GST Rate: 18%

Biscuits, pastries and cakes, AC hotels, telecom services, financial services, restaurants at 5-star hotels, computers, IT services, branded garments, etc will fall under this category.

​GST Rate: 28%

​GST Rate: 28%

Automobiles, pan masala, chewing gum, private-run lotteries, race club betting, movie tickets above Rs 100, five-star hotels with Rs 7, 500 or above tariff, etc will fall under this category.

Add Comment()

Comments ()

X
Sort By:
Be the first one to comment.
We have sent you a verification email. This comment will be published once verification is done.