The Goods & Services Tax (GST) Council headed by Finance Minister Arun Jaitely has fixed the rates for specific items. According to the new GST bill, commonly used products and food grains will become cheaper, while the tax rate on daily commodities will be same.
Similarly, GST Council has fixed rates for 1,211 items. Now, see the list of what goes up v/s what goes down and how it will affect the pocket of different categories of people from July 1, 2017.
What Goes Up…
The service tax on mobile bills will be painful, now calling to family and friends will cost 15% after rolling out the new GST.
#Personal care items
All the products which your body used to love will be under the 28% slab as service tax on shampoos, perfumes, and all the personal care products will take a jump from 22% to 28%.
A bit painful for women because the service tax on yellow metal increased 1%, the rate finalized for gold is 3%.
TVs, ACs, Washing Machines and other consumer durables product will pinch your pocket because it will get expensive under new GST.
The only product which left untouched by GST regime but not so far as GST Council will fix the tax rates by June 11.-
What Goes Down…
Now, Indians can change their smartphone easily as the new tax rates will be only 13.5% to 12%.
Now, you can enjoy the movie of your favorite celebrity with yummy cheesy popcorn. The new tax rate will be 18%.
GST council has fixed the tax rate of transport services at 5% instead of current 6%.
Now, your monthly budget for food grains will be on the proper track as it exempted from any of the tax slabs.
Now, your dream to have a car might get true as car manufacturers have slashed the rates ahead of new GST session.