Amidst rising inflation, the prices of packaged and labeled curd, paneer, lassi, and essential items of daily use will have to pay more GST from July 18. This will increase the prices of essential goods. In its meeting held last month, the GST Council revised the GST rates on various products, which have been notified by the Central Board of Indirect Taxes and Customs (CBIC). This will increase the cost for the common man.
We will have to spend more on these
5 percent GST will be levied on the purchase of packaged and labeled curd, lassi, paneer, honey, cereals, meat, and fish.
A room rented above Rs 5,000 (non-ICU) in a hospital will attract 5% GST.
18 percent GST on the charges levied by banks on the issuance of checkbooks.
12 percent GST on hotel rooms renting less than Rs 1,000 per day. Don't think so now.
The rate on Tetra Pack increased from 12 percent to 18 percent.
18% GST instead of 12% on printing/writing or drawing ink, LED lights and LED lamps.
12 percent GST will have to be paid on maps, atlases, and globes.
18 percent GST on blades, knives, pencil sharpeners, spoons, forked spoons, skimmers, etc. 12 percent now.
18 percent GST instead of 5 percent on flour mill, pulse machine.
18% GST instead of 12% on grain sorting machines, dairy machines, fruit-agriculture product sorting machines, water pumps, cycle pumps, and circuit boards.
12 percent GST on soil-related products. It is 5 percent now.
GST on chit fund service increased from 12% to 18%.
these things will be cheap
5% tax on the movement of passengers and goods through a ropeway. It's now 18 percent.
Splints and other fracture devices, prostheses, body implants, intra-ocular lenses, etc. will attract 5 percent instead of 12 percent.
The GST on freight fares will be reduced from 18 percent to 12 percent for those operators where fuel cost is included.
Certain items imported for Defense Forces will not attract IGST.
Opinion sought on changes in monthly GST payment form
The Finance Ministry has sought the opinion of the industry by September 15 on the changes to be made in the monthly GST payment. In a meeting of the GST Council held last month, it was recommended to make the changes in the GSTR-3B or monthly tax payment form public and seek suggestions and advice from all stakeholders on them.
Recommending changes in the monthly GST payment system, the ministry said on Friday, "General public and traders are informed that a detailed concept paper has been issued on the major changes in Form GSTR-3B." Suggestions have been sought from all the stakeholders by September 15, 2022.
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