The Goods and Services Tax (GST) was launched on the midnight of 30th June, 2017 by Narendra D Modi, the Prime Minister of India. The GST ...
The Goods and Services Tax (GST) was launched on the midnight of 30th June, 2017 by Narendra D Modi, the Prime Minister of India. The GST Council has fixed the tax rates of around 1,211 items and 600 services. This apex decision-making body has approved a four-rate GST tax structure, where the tax rates of good and services fall into slabs of 5%, 12%, 18% and 28%. Majority of the goods and services have been put into the 18% GST slab.
Here’s a comprehensive list of the goods and services whose prices have reduced since GST came into force on 1st July, 2017:
1) Daily use items
- (a) Edible :Prices of eatables have dropped considerably. Food items like milk powder, curd, butter milk, sugar ,dairy spreads, cheese,spices,mineral water,tea,flour,spices, groundnut oil,palm oil, sunflower oil, coconut oil, mustard oil,sugar confectionery, pasta, noodles, fruit and vegetables,pickle,murabba, chutney, sweetmeats,sauces, toppings and spreads,instant food mixes, ice,khandsari,biscuits, raisins and gum, baking powder,margarine, cashew nuts, etc. are cheaper now due to the GST regime. Items which are exempted from the GST tax rate structure include cereal grains, jaggery,and salt.
- (b) Non- edible :Consumer durables such as bathing soap, hair oil, detergent powder, soap, tissue papers, napkins, matchsticks, candles, coal, kerosene, LPG domestic, spoons, forks, ladles, skimmers, cake servers, fish knives, tongs, toothpaste, tooth powder, hair oil,LPG stove, plastic tarpaulin etc. have become low- priced. Kajal is exempted under the GST tax system.
- (c) Puja samagri :Items such as rudraksha, rudraksha mala, tulsikanthi mala, panchgavya, yagnopavit, chandantika, roli, panchamrit, agarbatti,unbranded natural honey,wick for diya, etc. are all exempted from the GST regime.
2) Stationery items
Some stationery goods whose prices have reduced after the GST regime are notebooks, pens, all types of paper, school bag, exercise books, parchment paper, carbon paper, printers to name a few. Pictures, drawing and coloring books are exempted under GST.
3) Healthcare items
Even the prices of healthcare products like Insulin,X-ray films for medical use, diagnostic kits, glasses for corrective spectacles,medicines for diabetes, cancer, etc. have been affected by GST and they have reduced by a significant amount.
Clothing items such as silk, woolen fabrics, khadi yarn, footwear below Rs 500, apparel up to Rs 1,000 have also dropped in prices. Raw silk, Gandhi topi and wool are exempted under GST.
Other categories which have become cheaper due to the GST tax rate system are as follows:
- (a) Items related to vehicles-Diesel engines of power not exceeding 15HP,tractor rear tires and tubes, weighing machinery, static converters (UPS), electric transformers, winding wires, helmet, lubricants.
- (b) Automobiles-Bikes, luxury cars, motorcycles, scooters.
- (c)Movie tickets less than Rs 100.
- (d) Flight tickets- Economy-class air tickets.
- (e) Hotel tariff below Rs 7,500.
- (f) Construction items- Cement, fly ash bricks and blocks.
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