A lot of confusion is surrounding the notion of GST so here’s me trying to SPREAD THE WORD of the recently changed tax brackets which you need to know. Below are those 5 things that got a reduction in tax bracket:
- Electronics – Yes, you saw that right! As VAT has been removed from smartphones resulting in price reduction and the current GST rate is 12% which was previously more than 13.5%.
- Cabs – GST proposed a 5% taxation in place of the 6% one, the change in this category is a slight one but you know what they say “Every change counts”.
- Personal Care Products – Several items like eye-kajal, toothpaste, Hair oil/serums, soaps as well as detergents have been placed in 18% taxation from the earlier range of 24% to 28%.
- Daily Consumption Items – This was much required because products like milk, vegetables, fruits are basic stuff that you need in your routine and thanks to the government now in 1% to 5% tax bracket. (P.S.- processed food items are also lower than 5%)
- Footwear & Clothing – Apparel which costs less than INR 1,000 are under 5% taxation and footwear priced below INR 500 are also placed in 5% tax bracket.
I know that last point will bring a lot of joy to people especially girls because it made me happy too!!!