Tuesday, October 4, 2022

GST Update: Finance Minister announced, from 18th, many things including curd, lassi will be expensive; See full list here

ETA for GST Council Meeting: After the GST Council meeting, Finance Minister Nirmala Sitharaman made a number of significant announcements. Under this, many items will now become expensive from July 18, although many things will also become cheaper than before. Let’s see the complete list.

GST Update: The ordinary populace will suffer a setback in the midst of growing inflation. From July 18, you will now have to pay more for many everyday items. Actually, Finance Minister Nirmala Sitharaman disclosed this information following the 47th GST meeting. The Finance Minister said that from July 18, the rates of GST on some new products and some goods and services will increase.

Finance Minister gave information

Agricultural products with pre-packaged labels like paneer, lassi, buttermilk, packaged curd, wheat flour, other cereals, honey, papad, cereals, meat, and fish (except frozen), puffed rice, and jaggery to become costlier from July 18 Will go That is, the tax on them has been increased. Currently, unpackaged and unlabeled food goods are tax-free, whereas branded and packaged food items are subject to a 5% GST. Tell us what will be inexpensive and expensive starting on July 18?

These things will be expensive

Tetra Pack Dahi, Lassi, and Butter Milk will be costlier as it will attract 5% GST from July 18, which was not applicable earlier.
The charges levied by banks on the issuance of checkbooks will now attract 18% GST.
Rooms rented above Rs 5,000 (non-ICU) in a hospital will attract 5% GST.
Apart from this, charges including maps and atlas will now attract GST at the rate of 12 percent.
Hotel rooms renting less than Rs 1,000 per day will attract 12 percent GST, which was not applicable earlier.
– LED lamps will attract 18 percent GST on LED lights, which was not levied earlier.
Blades, paper scissors, pencil sharpeners, spoons, forked spoons, skimmers, cake-servers, etc., which were earlier attracting 12 percent GST, will now attract 18 percent.

Read More: GST Collection: More than Rs 1.44 lakh crore GST collection in June 2022.

These things will be cheap

From July 18, it will become cheaper to carry passengers and goods through the ropeway, as the GST rate on it has been reduced from 18 percent to 5 percent.
GST on splints and other fracture devices, body prostheses, body implants, and intraocular lenses has been reduced from 12 percent to 5 percent.
GST on fares for operators carrying freight from fuel costs will be reduced from 18 percent to 12 percent.
The import goods sales tax (IGST) won’t be applied to some defense force supplies.

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