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A guide to the new changes in the rates of GST- Aapdu junagadh
A guide to the new changes in the rates of GST- Aapdu junagadh

Today’s Newspapers will be all about the new changes in the rates of GST on various commodities. Everyone will be chit-chatting about GST and its impacts on the economy and daily life. But to some, these talks might be just bouncing off their head.

To make your task of understanding the changes applied to GST rates and help you to be a part of the discussions, here is a guide to the major changes that will be applied from Nov 15, 2017 onwards

There are 5 slabs of taxes. These are 0%, 5%, 12%, 18% and 28%.

Initially, when the GST was passed, there were 177 items in the highest slab i.e. 28%, but these have been reduced to only 50 on the list which includes products like pan masala, aerated water and beverages, cigars and cigarettes, tobacco products, cement, paints, perfumes, ACs, dishwashing machine, washing machine, refrigerators, vacuum cleaners, cars and two-wheelers, aircraft and yacht.

The rest of the products which belonged to the slab of 28% like detergents, shampoos, hair cream, hair dyes, make up etc are moved to 18% or even lower in some cases.

Apart from this, Eating in Restaurants has been made cheap. Now, only 5% will be levied on all the AC and Non-AC restaurants.

For furthur reading you can also see:

*https://timesofindia.indiatimes.com/business/india-business/gst-rejig-tax-rate-on-178-daily-items-reduced-to-18-from-28/articleshow/61597017.cms

*https://economictimes.indiatimes.com/news/economy/policy/gst-rates-slashed-on-many-items-heres-the-revised-rates-and-the-latest-announcements/articleshow/61596210.cms

*http://indianexpress.com/article/business/economy/full-list-of-177-items-with-updated-gst-tax-rate-at-18-per-cent-arun-jaitley4931758/

*http://indianexpress.com/article/business/economy/full-list-of-items-for-which-gst-has-been-reduced-4878520/

 

Share your views about these new changes in the rates of GST.

 

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