Monday, August 8

Tag: Rate

New GST rates come in effect from today: Check the rate change list here
Business

New GST rates come in effect from today: Check the rate change list here

Starting Monday, customers will have to shell out more money on household items, hotels, and bank services, among many other things, as the revised Good and Services Tax (GST) rates come into effect from July 18. The GST rates were hiked on several items at the 47th Council Meet, chaired by Union Finance Minister Nirmala Sitharaman last month in Chandigarh. While the GST council proposed to withdraw tax exemptions for a few items and rate changes for others, exemptions for many others were removed. The council also decided to remove duty inversion for goods where the inputs taxes were higher than those on the output. Here's what all will get costly from Monday: 5 per cent GST on pre-packed, labelled food items like atta, paneer, and curd 12 per cent GST on hotel rooms with the t...