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GST - Goods and Services Tax has finally rolled out in India Starting today July 01, 2017. This completely change the way taxes are being imposed on sale of Goods and Services at various outlet, Banks, Hotels, Cinema, Shopping Malls and various other places. The Best part of GST is you will get hit everywhere you go for shopping or a service and it will very much hit your Monthly Budge. We at Raptchik, trying to bring few items which will be showing significant impact on your budget and are of regular use.
Automobiles :
If you are planning to buy a car, then definitely you will be shelling out more money from your pocket. Cars are falling under 28% tax bracket, but if you are planning to buy electric Vehicles then you may get vehicles at cheaper price due to 12% tax slab. If you think, its only Cars price goes up then you are wrong, both accessories and spare parts are also falling under 28% slab which means you have to pay more for your Servicing too..! A direct 10% hike in price of your dream Car.
Electronics :
Most of Consumer electronics like laptops, Mobiles are falling under 18% slab.
- Laptops - 18%
- Computer parts - 18%
- Printers - 18%
- projectors - 28%
- Imported Mobiles - 12%
- Made in India Mobiles -12%
- Air-Conditioners - 28%
- Refrigerators - 28%
FMCG Products :
This is really an interesting segment , which will have a direct impact on everyone's daily and monthly Budget.
- Puffed Rice, Water, coconut Water, Bread -0%
- icecreams -18%
- Instant Food mixes - 28%
- Protein concentrate - 28%
- Cold drinks - 28%
- Biscuits - 18%
- Nuts - 5%
- Jams - 18%
- Namkeen - 18%
- Pasta, Noodles - 18%
- Tobacco Products - 28%
- Shaving creams, After shave, Hair shampoo, Hair Dye - 28 %
- Paneer - 5%
- Frozen Vegetables - 5%
Products such as Fresh Milk, Vegetables, newspaper,Chicken,eggs, salt, jaggery, curd, buttermilk, fish and Food grains are exempted from Tax, which is a good move.
Services :
Your Mobile bill may go up and so as your Banking Services Charges , please find below details for other services :
- small Restaurants will fall under 5%
- All Banking Services are falling under 18 % tax slab
- Non-Ac hotels will be falling under 12% tax slab
- AC hotels - 18%
- Telecom services - 18%
- IT Services -18 %
- Five Star Hotels - 28%
- Movie Tickets above ₹100 - 28%
This is not a full list, just derived for reference purpose. It may contains errors, reader discretion advised
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