What is GST ?

GST is meant to be a unified indirect tax across india on products and services. In the current system, tax is levied at each stage separately by the Union government and the states at varying rates, on the full value of the goods.

GST Full form is Goods and Service tax which is going to rollout from today mid-night.

It will impact on every Indian as Price of large number of services and goods are going to Change.

The GST Council has fixed the GST rates for 1211 items.

GST ONE NATION ONE TAX

 

Here is a list of Goods that will become costlier from 1st July 2017

  1. Paneer
  2. Masala powder
  3. Coffee
  4. Cornflakes
  5. Curd
  6. Ghee
  7. Chewing gum
  8. Chocolates
  9. Spices
  10. Ayurveda and other alterative medicines
  11. Gold
  12. Five star Restaurants
  13. Movie tickets above Rs 100
  14. IPL Matches
  15. Perfumes
  16. Shampoo
  17. AC and First-class rail Tickets
  18. Air conditioner
  19. Fridge
  20. Washing machine
  21. Television
  22. Courier Services
  23. Mobile phone
  24. Insurance premiums
  25. Banking charges
  26. Broadband
  27. Two-wheeler with engine capacity more than 350cc
  28. Small and mid-size cars
  29. SUVs
  30. Fishing nets
  31. Smartphone
  32. Laptops
  33. Desktops
  34. Yoga mats
  35. Fitness equipment
  36. Cigarettes
  37. Tobacco
  38. Alcoholic drinks
  39. Luxury drinks

 

And here is a list of goods and services that will be cheaper from 1st july 2017

Edible products such as

  1. Milk powder
  2. Curd
  3. Butter milk
  4. Unbranded natural honey
  5. Dairy spreads
  6. Cheese
  7. Spices
  8. Tea
  9. Wheat
  10. Rice
  11. Flour
  12. Palm oil
  13. Sunflower oil
  14. Coconut oil
  15. Mustard oil
  16. Sugar
  17. Jaggery
  18. Pasta
  19. Noodles
  20. Fruit and vegetables
  21. Pickle
  22. Murabba
  23. Toppings
  24. Ketchup
  25. Mineral water
  26. Junk food
  27. Ice cream
  28. Biscuits
  29. Raisins and gum
  30. Baking powder
  31. Margarine
  32. Cashew nut

Items of Daily use such as

  1. Bathing soap
  2. Hair oil
  3. Detergent powder
  4. Soap
  5. Tissue papers
  6. Napkins
  7. Matchsticks
  8. Candles
  9. Coal
  10. Kerosene
  11. LPG domestic
  12. Spoons
  13. Forks
  14. Ladles
  15. Skimmers
  16. Cake servers
  17. Fish knives
  18. Agarbati
  19. Toothpaste
  20. Hair oil
  21. Kajol
  22. LPG stove
  23. Plastic tarpaulin

 

Study regarding products such as

  1. Notebook
  2. Pens
  3. All type of paper
  4. School bag
  5. Exercise books
  6. Drawing and colouring books
  7. Parchment paper
  8. Carbon paper
  9. Printers

healthcare materials such as

  1. Insulin
  2. X-ray films for medical use
  3. Diagnostic kits
  4. Glasses for corrective spectacles
  5. Medicines for diabetics and cancer

 

Others

 

  1. Diesel engines of power not exceeding 15 HP
  2. Tractor rear tyres and tubes
  3. Static converters
  4. Electric transformers
  5. Winding wires
  6. Helmet
  7. Lubricants
  8. Movie tickets less than 100
  9. Kites
  10. Luxury car
  11. Motorcycles
  12. Scooters
  13. Economy class air tickets

 

The above are the list of products that are going to be affected by GST.

Stay Tuned with TheFactBuzz for more updates

 

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