A New India in the Make: GST’s Impact on Items and Services

India’s iconic tax reform is here. Rolled out from midnight of 30th June, 2017, GST is taking the entire nation by a storm – the GST Council has pegged the tax rates for 1211 items and 600 services, holding a majority of these within 18% tax rate slab.

 
A New India in the Make: GST’s Impact on Items and Services
 

The GST Council has designed 4 tax rate slabs primarily for numerous items – the rates are as low as 5%, standard rates hover around 12% to 18%, whereas the highest rate found is of 28%. Some of the items had higher effective tax rates before GST implementation, but under the new tax policy, the consumers are to be benefitted at large.

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Check out the following infographic, in which a comprehensive list of the goods and services are chalked out that will become cheaper and costlier after GST implementation:

 

The impact of GST On items and services

 

As the nation transforms itself, let us celebrate this historic moment, after independence. Happy Digital Taxation to New India!

 



 

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July 5, 2017 6:35 am Published by , , , , , , ,

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