Goods & Services Tax (GST) Updates

GST Council Lowers Rates For These Categories

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Daily use products, LPG to become cheaper under GST

Some of the items where the GST incidence is lower than the present combined indirect tax rates are milk powder, curd, butter milk, Unbranded Natural Honey, dairy spreads, cheese, spices, tea, wheat, rice, flour, and spices.
The new tax is also lower on groundnut oil, palm oil, sunflower oil, coconut oil, mustard oil, sugar, palmyra jaggery, sugar confectionery, pasta, spaghetti, macaroni, noodles, fruit and vegetable items, several food products, pickle, murabba, chutney, sweetmeats, ketchup and sauces.
The finance ministry today released a list of supplies wherein GST incidence will be lower than the current taxes.
The list also includes toppings, spreads and sauces, instant food mixes, mineral water, ice, cement, coal, kerosene PDS, LPG domestic, insulin, agarbatti, tooth powder, hair oil, toothpaste, kajal, soap, X-ray films for medical use and diagnostic kits and reagents.
The new tax is also lower on plastic tarpaulin, school bag, exercise books and note books, kites, children’s picture, drawing or colouring books, silk and woollen fabrics, certain types of cotton fabrics and specific readymade garments, along with footwear of Rs 500, and helmet.
Fly ash bricks and fly ash blocks, glasses for corrective spectacles, LPG stove, spoons, forks, ladles, skimmers, cake servers, fish knives, tongs, fixed speed diesel engines of power not exceeding 15HP, tractor rear tyres and tractor rear tyre tubes, and weighing machinery.
 


so i have just been told that GST on mediclaim increases tax rate by 3%. i have already entered the next age bracket so my premium is already high this year. what a time to be alive and (relatively) healthy.
 

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