After the GST cut, now about 375 items from kitchen goods to electronics, medicines, equipment and vehicles will become cheaper from Monday i.e. September 22. The GST Council has decided to reduce GST rates from 22 September (on the first day of Navratri), giving relief to consumers.

Common use items like ghee, cheese, butter, salty, ketchup, jam, dry fruits, coffee and ice cream and expensive products like TV, air conditioner (AC), washing machines will also become cheap. In view of the change in GST, Rogerma’s consumption (FMCG) companies have already announced a cut in prices.

House building also became cheaper

GST rate on medical equipment like most drugs, formulation, glucometer and diagnostic kits has been reduced to 5 percent, which will give the common man cheaper. The GST on cement has been reduced from 28 percent to 18 percent, which will also benefit the builders.

Special instructions to medical shops

The government has already instructed drug stores to change their maximum retail price (MRP) or sell medicines at a low price keeping in mind the benefits of cutting GST. Vehicle buyers will be the biggest benefit from the GST rate cut, because tax rates on small and big cars have been increased to 18 percent and 28 percent respectively. Many car companies have already announced the price cuts.

5 percent tax on what things?

Everyday items like oil, soap, shampoo, toothbrush, toothbrush, toothpastes can also become cheap, because the tax on these has been reduced from 12/18 percent to 5 percent. The prices of other everyday items like Telkam powder, face powder, shaving cream, offershave lotion can also be reduced, as GST has come down from 18 percent to five percent.

Now 2 slabs in GSAT

There will be two slabs in GST from 22 September. Most goods and services will be taxed at 5 and 18 percent. 40 percent tax will have to be paid on luxury items. At the same time, cess will be levied along with 28 percent tax on tobacco and its related products. Currently, GST has four 5, 12, 18 and 28 percent slabs.

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