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 has 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 of the common man.
Will have to spend more on these:
- 5% GST will be levied on 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% GST on the charges levied by banks on issuance of check books.
- 12% GST on hotel rooms renting less than Rs 1,000 per day. Don’t think so now.
- Rate on Tetra Pack increased from 12% to 18%.
- 18% GST instead of 12% on printing/writing or drawing ink, LED lights, LED lamps.
- 12% GST will have to be paid on maps, atlases and globes.
- 18% GST on blades, knives, pencil sharpeners, spoons, forked spoons, skimmers etc. 12% now.
- 18% GST instead of 5% 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, circuit boards.
- 12% GST on soil related products. It is 5% 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 ropeway. It’s now 18%
- Splints and other fracture devices, prostheses, body implants, intra-ocular lenses, etc. will attract 5% instead of 12%
- The GST on freight fare will be reduced from 18% to 12% 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.
The post GST: Prices of curd, lassi will increase from July 18, treatment will be expensive appeared first on Spotlight 7.
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