Now grocery, petrol to BMW … Everything will be cheaper! GST’s biggest change so far, your pocket will have a direct impact

New Delhi: Tighten the gear, because there is going to be such a ‘Maha-Badlav’ in the country’s biggest tax system, ie GST (Goods and Services Tax), which will directly affect everything from your kitchen budget to the luxury car of your dreams. The government and GST Council are preparing to make the biggest reshuffle in tax slab so far, which can give great relief to your pocket.

This is not just a small change, but a big exercise to make the entire tax structure simple and rational. So let’s understand in easy language what is going to change and how much you can benefit from it.

Now only 3 GST slabs! Tax will end

So far we all on different things 5%, 12%, 18%and 28% According to it, we have been giving GST. This system is slightly entangled and sometimes causes confusion. Now, GST Council headed by Finance Minister changes this entire system only Three slabs Is considering bringing in

The new proposed system can be something like this:

1. A lower slab: May be 8-9%.
2. A Standard Slab: Which can be 15%.
3. A higher (demerit) slab: It can remain at 28% only.

What will be the effect on your pocket? Learn what will be cheaper

This change can prove beneficial for every common and special man. Let’s see how:

• Grocery and everyday items will be cheaper: Things that come in a 12% slab right now, such as ghee, butter, processed food, mobile phones, etc., they can come in the lower slab (8-9%) in the new system. This will reduce the prices of all these things. Things with 5% slab may have a slight effect, but overall the budget of the house may improve.
• Haircut, food in restaurant, going to beauty parlor also cheaper: So far we give 18% GST on all these services. It directly in the new system 15% The standard of K can come in the slab, which will reduce your month’s expenditure. TV, fridge and many other electronics can also become cheap by coming in this category.
• BMW and luxury cars can also be cheap!: This can be the most shocking change. Currently, there are plans to keep things like luxury cars and cement with 28% GST in a new higher slab. However, on this slab Cess Can be removed or reduced. If this happens, then your dream BMW, Mercedes or other luxury vehicles can also be somewhat cheap.
• Petrol and diesel also under the purview of GST?: Biggest discussion Petrol & Diesel It is being done to bring it under the purview of GST. If this happens, then the prices of petrol across the country will become uniform and there can be a huge shortage in them.

The final decision on when this change will be implemented will be taken in the next meeting of the GST Council. But one thing is certain that if these proposals have passed, then this will be the biggest economic improvement of the Modi government so far, which will directly benefit you and our pockets.