The Indian Government has been preparing itself for the new regime. The new goods and Service tax law is India’s highest tax amendment enterprise which is requisite to reform of compliance levels, improve govt. Revenue, central and local taxes. The GST effect on most of the sectors of the economy.
Costly Things After GST:
Under the GST, the current rate would increase to 18 percent which will be the services is more costly such as edible oil, textiles etc. Some of the goods could get costlier after GST. Here is the list of some things.
- Restaurant and hotel bills
- Jewelry and precious metals
- Luxury Cars
- Mobile bills and Internet packs
- Transportation services including railways, air travel, and cab services
- Cigarettes and other tobacco products
- Aerated Drinks
- Courier and DTH services
Cheaper Things After GST:
Some of the goods could get cheaper after GST. Here is the list of things.
- Wood articles and Plyboards
- Paint, cement and several construction materials
- Branded apparel
- Solar panels, and fingerprint scanners
- Air coolers, fans, water heaters, TVs, and other electronic items
- Movie tickets
- Pharma products
- Online Shopping
- Fast moving consumer goods (FMCG) goods like processed foods, shampoos, chocolates, etc.
GST is one of the most powerful tax reforms in India. Nowadays, government and many organizations have developed mobile applications, websites and much more. In which GST Helpline App is one stop solution for providing latest news, articles, and laws. The app is available on both platforms. It comes with simple and light user interface.
Related : TAX APPLICABLE ON SALES OF GOODS PRE GST AND FILE RETURN POST-GST
