Impact Of GST On Daily Routine Life
- July 1, 2017
- Posted by: Vivek Shah
- Category: Finance
What is GST?
GST stands for Goods and Service tax. The key concept of GST is “One Tax for One Nation”. GST will replace different taxes of service Tax, VAT and excise. GST will be collected by Centre and the states.
Types of GST
CGST: GST will be collected by Central Government.
SGST: GST will be collected by State Government.
IGST: GST will be shared by both State and Central Government.
How GST Will Impact On Daily Routine Life?
GST On Food Items
=> Edible oil, Sugar, Tea, Baby milk food, Frozen vegetables: 5% GST
=> Namkeen, Ghee, Cheese, Fruit & Vegetable Juice: 12% GST
=> Diabetic Food, Potato chips, Biscuits, Pasta, Noodles, Cakes, Ice Cream: 18% GST
=> Chocolates, Chewing gum, Instant Tea/Coffee: 28% GST
=> Cold Drinks: 40% GST
GST on Automobiles
=> Bike: 28% GST
=> Small Car(Petrol): 29% GST
=> Small Car(Diesel): 31% GST
=> Medium Car(Petrol/Diesel): 43% GST
=> SUV Cars: 43% GST
=> Hybrid Cars: 43% GST
GST On Construction Goods
=> Sand: 5%
=> Steel pipe, Plastic door & window: 18% GST
=> Paint, Cement, Tiles, Aluminium window/door frame, waterproofing: 28% GST
GST On Electric & Electronic Goods
=> LED Lights, Mobile phones: 12%
=> UPS, Set top box, Desktop, Laptop, Printer: 18%
=> Lamps, Switches, Insulated wire-cable, TV, Fridge, Washing Machine, Dish Washer: 28% GST
GST On Education Sector
=> Pencil, Fountain Pen, Ballpen, Crayon: 12% GST
=> Stapler, Sharpener : 18% GST
=> Coaching Fees: 18% GST
GST On Jewellery
=> Imitation Jewellery, Silver, Gold, Platinum, Diamond: 3% GST
GST On Other Goods
=> Steel Utensils, Toothpaste & Toothbrush, Aluminium utensils, : 12% GST
=> Wooden Goods, Plastic Goods, Glass bottle and other glass products, Paper products: 18% GST
=> Watches, Firecrackers, Cosmetics: 28%
GST On Services
=> Cab Service, Air Economy, AC Railway: 5% GST
=> Phone Bill, Vima Premium, Financial Services, Courier: 18% GST