New GST rates will be in effect from Monday onwards. A full list of everything that will cost extra

 A number of items were removed from the list of things excluded from the scope of the unified tax structure as a result of revisions to the tax structure approved by the GST Council. Beginning on July 18, the GST tax rates will be in force.

GST Changes to come into effect from Monday(PC:ETNow)

On Monday, July 18, the revised GST rates for a number of commodities will go into effect. A number of products were removed from the list of things excluded from the scope of the unified tax structure after revisions to the tax structure were adopted at the 47th meeting of the GST Council.

After the GST rates were raised for a number of commodities during the 47th Goods and Services Tax meeting in Chandigarh last month, various household items, including hotels and bank services among others, would become more expensive starting next week. The common person would have to spend more to acquire everyday groceries after the implementation of the GST rate hike on these commodities on Monday, July 18, which will further increase their kitchen budget. From July 18, pre-packaged and labelled goods like curd, lassi, buttermilk, paneer, wheat, and rice will be subject to a 5 percent GST.

NOTE:Any agricultural and dairy goods will continue to be exempt from GST, whether they are sold loose or packaged in front of customers. Prior to this, only branded packaged rice was covered by the GST. All unbranded, pre-packaged grains of rice, rice flour, and wheat will now be subject to GST.

The central government imposes a single indirect tax known as the GST. On July 1, 2017, the GST was implemented, and until June 2022, states were guaranteed reimbursement for any revenue losses caused by the GST rollout.

The complete list of goods that will now be subject to GST or taxed at a different rate is provided below.

Goods that are not packaged, labelled, or branded are nonetheless exempt from the GST.

Food Products

Pre-packaged and labelled meat (apart from frozen), fish, curd, paneer, honey, dried legume vegetables, dried makhana, wheat and other cereals, wheat or meslin flour, jaggery, puffed rice (muri), all commodities, organic manure, and coir pith compost would be subject to a 5 percent GST rate.

Fruits

All mango products, including mango pulp, will now be subject to a 12 percent GST (other than mangoes sliced, dried). Mangoes that are still raw or fresh are still exempt.

GST on hotel rooms, jewellery, and chequebooks

• GST of 18% will be applied to the fee that banks charge for issuing checks (loose or in book form).
• In contrast to the current tax exemption, a 13% GST would be charged on hotel rooms costing less than Rs 1,000 a day.
• Atlases and other maps and charts will be subject to a 12% charge.
• GST on e-waste rose from a previous rate of 5% to 18%.
• GST will increase from 12% to 18% on LED lamps, inks, knives, blades, power-driven pumps, and dairy equipment.
• The tax rate on cereal-milling equipment will go up to 18% from just 5%.
• GST will increase to 12% for solar water heaters and finished leather.
• GST on some petroleum-related commodities would be raised from 5% on input goods to 12% in order to remedy the inversion.
• GST on services provided under labour contracts to the government and municipal bodies will be 18%. - GST on polished and cut diamonds rose from 0.25 to 1.5%.
• Ropeway transportation of products and people will henceforth be subject to 18% GST, up from 5%. (with ITC of services).
• Renting a truck or goods carriage where the cost of gasoline is included will now be subject to a 12% GST. The following exemptions in the case of services are being rationalised: - The exemption on air travel for travellers to and from NE states and Bagdogra is being limited to economy class.

Household items that will cost more from July 18(PC:India.com)

The exclusion of a variety of goods and services from the GST

• Transport of railroad supplies and equipment by rail or ship.
• Keeping or storing goods that are subject to tax (nuts, spices, copra, jaggery, cotton etc.)
• Agricultural product warehouse fumigation.
• RBI, IRDA, SEBI, FSSAI, and GSTN services.
• Renting out a residential space to businesses (registered persons).
• Services offered by cord blood banks for stem cell preservation include: Hospitals are required to tax room rent (excluding ICU) over Rs 5,000 per day per patient at 5% without ITC, up to the amount invoiced for the room.
• Universities may collect an application fee for admission, the issue of an eligibility certificate for admission, or the issuance of a migration certificate without being subject to GST.
• In order to avoid needless litigation, the GST charged at 5% without ITC on the supply of ice cream by ice cream parlours from July 1, 2017, to October 5, 2021, shall be regularised due to ambiguity in the rates.
• Tetra packs would also be subject to a GST increase, going from 12% to 18%.

You will have to spend more for groceries(PC:Krishi Jagran)

Things that would go cheaper:

• From July 18, taxes on ostomy appliances and the use of ropeways for the transportation of goods and people will be reduced from 12 to 5 percent.
• Renting a truck or goods carriage that includes fuel costs will now be charged at a lower rate of 12% as opposed to 18%.
• Only economy class flights to and from Bagdogra and the northeastern states will be exempt from the sales tax (GST).
• From July 18, electric vehicles, whether or not equipped with a battery pack, would be eligible for the reduced GST rate of 5%.