The significant change in GST (Goods and Services Tax) rates in India will be applicable from Monday, September 22, which will directly affect the pockets of common citizens. After this change, the main rates of GST will now be only two 5% and 18%. In addition, a special rate of 40% will apply to selected items such as pan masala, cigarette and carbonated beverages.
GST rates change: cheap and expensive?
Finance Minister Nirmala Sitharaman has clarified that many electronic items used by the middle class, such as TV and air conditioner, have been placed in a slab with 18%.
What will be cheap: Everyday needs such as packaged food, edible oil, domestic cleaning products, and small electronic items (charger, earphones) will be inexpensive. In cities like Bengaluru, app-based auto and cab ride will also become cheaper. Medicines and medical equipment of common diseases will also be available at low rates.
What will be expensive: Food at restaurant, especially in air-decade and premium outlets, will become expensive. In addition, consumers such as refrigerators and washing machines will also become expensive along with durable items as well as salons and spa services and premium smartphones.
Overall, these changes are expected to provide relief in everyday expenses, but the cost of eating outside or buying home appliances may increase.
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Why should consumers be careful?
After the change in GST, it will be necessary for consumers to take some precautions, especially when they are shopping.
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Why is MRP a re -examination is necessary?
Confusion condition: Products made before 22 September can be both old and new MRPs. With this, shopkeepers can charge a higher price.
Example: If the old price of a biscuit pack was Rs 50, then under the new rates it can be Rs 48, but some shopkeepers can sell at the old price only.
New rule: Companies will no longer need to advertise the revised MRP in newspapers. They will only send a new price list to dealers.
Packaging: Companies will be able to use old packaging by March 31, 2026, but they will have to show a new price through stickers or digital printing.
The Department of Consumer Affairs has issued guidelines in this regard to companies. Therefore, it is advisable to carefully check prices while shopping so that you can get full benefit of GST cut.