ALL >> Business >> View Article
Whose Price Will Increase After Gst?
GST promises to stitch together a common national market by replacing a string of central and local levies such as excise, value added tax, octroi, service tax.
What will hurt your pocket:
Tea, coffee and masala that is taxed at 3–9% will be at 5% GST rate.
All luxury goods, aerated drinks and tobacco products are expected to be taxed at 28 per cent.
Mobile bills, insurance premiums, banking charges, internet, wifi and DTH services are likely to get costlier.
School fees, courier services and air tickets to get expensive.
Small cars will be slightly expensive under the proposed goods and services tax (GST) regime, with a peak tax rate of 28 per cent.
Here’s the complete list of GST rate card :
No tax will be imposed on the following items:
Fresh meat, eggs, milk, butter milk, curd, natural honey, fresh fruits and vegetables, flour, besan, bread, prasad, salt, stamps, judicial papers, printed books, newspapers, bangles, handloom etc.
5 per cent tax on :
Items such as fish fillet, cream, skimmed milk powder, branded paneer, frozen vegetables, ...
... coffee, tea, spices, pizza bread, rusk, sabudana, kerosene, coal, medicines, stent, lifeboats will attract tax of 5 percent.
12 and 18 per cent tax on:
Frozen meat products , butter, cheese, ghee, dry fruits in packaged form, animal fat, sausage, fruit juices, Bhutia, namkeen, Ayurvedic medicines, tooth powder, umbrella, sewing machine, cellphones, instant food mixes, mineral water, tissues, envelopes, tampons, note books, steel products, printed circuits, camera, speakers and monitors.
28 per cent tax on :
Chocolate not containing cocoa, pan masala, aerated water, paint, deodorants, shaving creams, water heater, dishwasher, weighing machine, washing machine, ATM, vending machines, vacuum cleaner, automobiles, motorcycles, aircraft for personal use, and yachts will attract 28 per cent tax — the highest under GST system.
Know More About GST Filing Utility.
Bad news for Himachal Pradesh and Uttarakhand
Earlier, states like Himachal Pradesh and Uttarakhand offered similar benefits to attract investments. Under the GST regime, goods produced in such areas will no longer enjoy lower tax rates. Experts said, companies may need to adjust their production capacities and realign geographical distribution of their manufacturing to bring down the impact.
Add Comment
Business Articles
1. Finding A Trusted Sustainability Consultant In Abu DhabiAuthor: Agile Advisors
2. Iso Certification In Dubai – Advantages For Business
Author: Agile Advisors
3. Best Forex Brokers List | Best Broker For Forex Trading 2024
Author: Top Forex Brokers Review
4. Celebrate Achievements With Customized, High-quality Awards From Trophy Deals
Author: Trophy Deals
5. Is 100% Company Ownership Possible For Expats In Saudi Arabia?
Author: jodonjo
6. We Are Hiring: Senior Executive - Indirect Taxation In Gurgaon!
Author: tanvir Khan
7. Ceratec Tower 1o8: The Eventual Fate Of Business Greatness In Balewadi, Pune
Author: Tarun
8. Enrofloxacin Manufacturer: Swisschemie
Author: Swisschemie
9. Ultimate Guide To Hotels In Mussoorie: Discover The Best Places To Stay, Including Hr Hotels And Resorts
Author: Hr Hotels and Resort
10. How Quickly Do Fast Cash Loans Online Pay Out Cash On The Same Day?
Author: Lucy Lloyd
11. Leading Digital Marketing Agency In Hyderabad And Unlock Your Brand’s Potential With Sanbrains Agency
Author: Sanbrains Seo
12. Celebrate Success With Customized Awards From Trophy Deals
Author: Trophy Deals
13. Title: Choosing The Right Humidity Stability Chamber Supplier For Your Manufacturing Needs
Author: bio gene
14. Complete Guide To Studying Mbbs In Poland
Author: Mbbs Blog
15. What Is The Process For Locating The Best Lender For Short Term Loans Online?
Author: Robert Miller