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Ringo_rangaswamy Hero Username: Ringo_rangaswamy Post Number: 17032 Registered: 02-2011 Posted From: 172.58.224.71 Rating: |
I have not seen ine meaningful post on GST. Cheekataithay restaurant ki yelli mandu kodithay 10% more bill Brikka lo boku cinemala tickets Rs. 50 more ani gola This bill came from recommendations of Kelkar co mmission in early 2000. It was worked out by Vajpayeee, Congress and Modi govt over 14 years Mana mandulo mukka costly ayyindani Modi ni thittatam, too labor. Ittanti Bill Bob theste ee patiki oka 100 bhatraju threads padipoyevi DB lo. | ||
Teluguhero Side Hero Username: Teluguhero Post Number: 2287 Registered: 04-2008 Posted From: 66.177.16.69 Rating: |
http://www.ndtv.com/india-news/cheaper-or-costlier-how-gst-m ay-impact-prices-of-goods-1718527?pfrom=home-topstories Cheaper Or Costlier? How GST May Impact Prices Of Goods Since GST is meant to eliminate "tax on tax", experts say overall tax burden on goods is expected to fall over time. All India | NDTV Profit Team | Updated: July 01, 2017 01:44 IST GST or goods and services tax changed the indirect tax landscape of the country from July 1 by subsuming over a dozen of state and central taxes. Since GST is meant to eliminate "tax on tax", experts say overall tax burden on goods is expected to fall over time. Many essential goods such as unpacked food grains, gur, milk, eggs and salt won't attract any tax under GST. Some services will get costlier as banking and financial services have been put in the 18 per cent rate slab under GST, from 15 per cent earlier. "However, going forward, it is expected that due to reduced cost because of availability of GST credit on items hitherto not available, the price of services will also come down which will benefit the consumers," says Sandeep Sehgal, director-tax and regulatory at Ashok Maheshwary & Associates LLP. After GST rollout, many items like footwear below Rs. 500 and garments could become cheaper. On the other hand, items like TV and small cars could become costlier. "However, going forward, it is expected that due to reduced cost because of availability of GST credit on items hitherto not available, the price of services will also come down which will benefit the consumers," says Sandeep Sehgal, director-tax and regulatory at Ashok Maheshwary & Associates LLP. After GST rollout, many items like footwear below Rs. 500 and garments could become cheaper. On the other hand, items like TV and small cars could become costlier. Items Earlier Rate (%) GST (%) Perfume 17.5 - 27 18 Cosmetics 28 Cheese 5-14.5 12 Butter 12 Glucometers 11-20.5 12 Tableware - Metal 11 18 Revised 12% for spoons, forks, ladles, skimmers, cake servers, fish knives, tongs Tableware - Ceramic 17.5 18 Tableware - Wood 18 and 28 Tableware - Plastic 18 Kitchenware - Metal 11-20.5 18 Revised 12% for Spoons, forks, ladles, skimmers, cake servers, fish knives, tongs Kitchenware-Ceramic 17.5 - 27 18 Kitchenware-Wood 18 and 28 Kitchenware-Plastic 18 Kitchenware-Fly ash 18 X-Ray Apparatus (for medical, dental & veterinary) 17.5-27 12 X-Ray Apparatus 28 Footwear (below Rs. 500) 14.41 5 Footwear(above Rs. 500) 14.41 18 Readymade garments (below Rs. 1000) 5-6 5 Readymade garments (above Rs. 1000) 18.5 12 Biscuits( Less than Rs. 100/kg) 11.89 18 Biscuits(Above Rs. 100/kg) 16.09 18 Corn-flakes 9.86 18 Wrist watch 20.64 28 Jam 5.66 18 Baby food (sold in unit containers) 7.06 18 Small Cars (<4m <1200 cc petrol) 25-27 28+1 (cess) Small Cars (<4m <1500 cc diesel) 25-27 28+3 (cess) Mid-segment (<1500 cc) 36-40 28+15 (cess) Cars with 1500 cc & larger engines 41.5-44.5 28+15 (cess) Vehicles for transport with 10 to 13 passenger capacity (cannot be considered as bus) 39-41 28+15 Motorcycles 25-35 28 Motorcycles Engine >350 25-35 28+3 (cess) Television 25-27 28 Stationery (Plastics) 11-27 18 Stationery (Paper) 12 and 18 Rates revised on following items from 18% to 12% - Exercise books and note books Stationery (Pen/Fountain Pen) Rates revised on following items from 18% to 12% - Eraser Renewable energy devices 17-18 5 Iron Ore 17-18 5 Digital Cameras 25-27 28 Luxury items like yacht 25-27 28+3 (cess) Music Instruments (Handmade) 0-12.5 0 Music Instruments (Other than Handmade) 25-27 28 |
