New GST Rate applicable from today | checkout what is costlier and what get cheaper
Government purposes to change GST rate on goods in 47th GST council meeting held in Chandigarh, last month on 28th and 29th June 2022, accordingly Central Board of Indirect Tax (CBIC) revises GST rate schedule and Notified proposed GST rate changes in council meeting on 13th July 2022.
All the rate changes notified on 13th July 2022 applicable with effect from Monday 18th July 2022, government has exemption and various household item while they have also reduces rate on some items.
Let’s checkout Price changes;
Items which become costlier
|
Sr. No. |
Item |
Old Rate |
New Rate |
|
1 |
pre-packed, labelled food items like atta, paneer, and curd |
Nil |
5% |
|
2 |
hotel rooms with the tariff of up to Rs 1,000/day, maps and charts |
Nil |
12% |
|
3 |
hospital rooms, except ICU, with rent above Rs 5,000 |
Nil |
5% |
|
4 |
tetra packs, and cheques — lose or in book form |
Nil |
18% |
|
5 |
LED lamps, ink, knives, blades, pencil sharpener, blades, spoons, forks, ladles, skimmers, skimmers, cake servers; printing, writing and drawing ink; fixture and their metal printed circuits board |
12% |
18% |
|
6 |
solar water heater |
5% |
12% |
|
7 |
Works contract for roads, bridges, railways, metro, effluent treatment plant, crematorium and others |
12% |
18% |
|
8 |
RBI, Irda, and Sebi services and renting of a residential dwelling to business entities |
Nil |
18% |
|
9 |
bio-medical waste treatment facilities |
Nil |
12% |
Items which get cheaper
|
Sr. No. |
Item |
Old Rate |
New Rate |
|
1 |
ostomy appliances and on the transport of goods and passengers by ropeways |
12% |
5% |
|
2 |
renting trucks, goods carriage where the cost of fuel is included |
18% |
12% |
|
3 |
electric vehicles, whether or not fitted with a battery pack |
lithium-ion batteries are taxed at 18% |
5% |
|
4 |
Air travel north-eastern states and Bagdogra restricted to economy class only |
5% |
Exempted |