look news india
Goods and Services Tax (GST) is about to complete 7 years. It was implemented on 1 July 2017. Which included 17 local taxes and duties. In the last seven years, there are many products and services on which tax has been reduced after the implementation of GST and the public has benefited directly. Know which goods became cheaper.
The prices of these items decreased
According to data released by CBIC, after the implementation of GST, the prices of many items used in homes like flour, cosmetics, television, refrigerator, etc. have come down.
According to CBIC data, before the implementation of GST, flour, curd, buttermilk and honey were taxed at 3.5%, 4% and 6% respectively. Which is now zero. While cosmetics and detergents were taxed at 28%, hair oil, soap and toothpaste were taxed at 27%. After the introduction of GST, these items are taxed at 18%.
Tax reduced on these electronic items
Before GST, LPG gas was taxed at 21%. Which has now been reduced to 18%. Data released by CBIC shows that before the implementation of GST, electronic equipment, fans, water coolers and furniture were taxed at 31.3%. Which has now been reduced to 18%.
Life of taxpayers will be made easier
Finance Minister Nirmala Sitharaman said in the recent GST Council meeting that I want to assure the taxpayers that our intention is to make the life of GST taxpayers easier. We are constantly working to reduce the complexities of the system.
