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How GST impacts India’s common man: A pictorial representation

Jul 14, 2017

The Goods and Services Tax (GST), India’s biggest indirect tax reform, is here, bringing in radical tax reforms that affect everyone, particularly the common man. Prices have changed after the GST implementation. The GST council, responsible for issuing a set of rates, finalized tax slabs for goods and services. While 7% items are exempt, 14% are in the lowest bracket of 5%. Around 17% items are in 12% tax bracket, 43% in 18% and 19% in the top tax bracket of 28%. This translates into the fact that a majority of the items attract 18% or less GST.

Though rates on key daily use items like sugar, tea and hair oil have come down, there is an increase in luxury and sin products. Eating out is more expensive, particularly, in a five-star restaurant which is taxed in the highest bracket. I have tried to break down how rates under the GST rollout compare with previous tax structure. Here it goes…

GST India News

Toothpaste and branded cereals to cost more: Consumer Goods Category

GST Tax

Rates go up For Mobile Phones and Refrigerators: Lifestyle and Home Category

GST Impacts

Wallpaper and Paints In the Highest GST Slab: Construction material Category

GST India

Plastic Products Cost More: Category: Others

GST Benefits and Impacts

This article was first published on LinkedIn by Muqbil Ahmar

Tags: GST, GST Bill, GST Council, GST Impact, GST India, GST Latest News, GST Law, GST News, GST Rates, GST Tax, Impact of GST

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