New GST Rate: New GST rates are applicable from today, check what happened cheaper and for whom will you have to pay more?

Highlights

There was no GST on packaged and labeled food items like flour, paneer, curd etc.
Till now there was no GST on renting of hotel form less than Rs.1,000.
Now 18 percent GST will have to be paid on taking a new check book from the bank, earlier it was out of the purview.

New Delhi. After the implementation of the decisions taken by the GST Council earlier this month, the prices of many items have increased from today i.e. July 18, including essential food items like flour, pulses, curd. However, the prices of some products have also come down from today.

Earlier there was no GST on packaged and labeled food items like flour, paneer, curd etc. After the decisions of the GST Council, if the room rent is more than 5 thousand on hospitalization, then GST will have to be paid. Not only this, now even affordable hotel rooms will attract GST. Till now, there was no GST for renting a hotel room of less than Rs 1,000, but now 12 per cent GST will have to be paid.

Also read – ITR Filing Deadline: If ITR is not filed by July 31, then penalty will be imposed according to the tax slab, interest will also have to be paid

In the meeting chaired by Union Finance Minister Nirmala Sitharaman, it was decided to impose GST on many products. The council had said that this rule will be applicable from July 18, after which the prices of many products will jump. Items of common man’s need like fish, curd, paneer, lassi, honey, dry makhana, dry soybean, products like peas, wheat and other cereals and puffed rice will also now attract 5 percent GST.

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Also made many products and services cheaper

The GST Council has also reduced the rates of GST on essential services including many medical devices. After this, the prices of these services and products have also come down from today.

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With the implementation of GST on these products, CBIC has also made it clear that if the package of cereals like flour, pulses is more than 25 kg, then tax will not have to be paid. In this, it must be kept in mind that goods weighing more than 25 kg should also be in the same packet, only then it will be exempted from GST.

Tags: business news in hindi, GST, GST council meeting, inflation

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