New GST rates: Gear up for higher taxes as Goods and Service Tax (GST) slab changes take effective from July 18 and here what is getting more expensive from your makhanas to your tailoring-:
• If it is packaged it is taxable! All packaged non branded food as well such as rice, atta, snacks will attract GST. A rate of 5% GST will be charged on pre-packed food
including curd paneer as well as all other 'snackables.
• Cooking was already expensive and now eating too will cost you more as the GST on cutlery - your spoons, forks and knives has been raised to 18% from 12%
• Expect your packaged juices to milk boxes to get more expensive has the GST council has raised the tax on 'Tetra Pack' to 18% from 12%.
• Your cheque books are going to cost you more as 18% GST will be levied on charges for issuance of cheques by the bank
• Stay healthy as being hospitalised is also getting costlier; 5% GST on hospital beds will be imposed on room rent (excluding ICU) above Rs.5000 per patient per day by the hospital.
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• Budget hotels will not longer be budget as from no tax to 12% GST will be imposed if room rent is less than Rs 1000/night.
• Tailoring is going to get more taxing - as the GST imposed on stitching your next textile has been raised to 12% from the previous 5%.
• If you are a fan of leather clothing or textiles or accessories well now be ready face a 12% tax payout vs 5% earlier.
• Going green will also cost you, GST on solar water heater will be increased to 12%.