GST rate hike comes in effect from Monday: Here’s what will get costlier


From next week, many household items, hotels, and bank services among other things will get costlier


GST rates | GST | GST Council meet

BS Web Team  | 
New Delhi 

From next week, many household items, hotels, and bank services, among other things, will get costlier after the rates were hiked for several items in the 47th Goods and Services meeting in Chandigarh last month.

While The council proposed to withdraw exemptions for a few items and rate changes for others, exemptions for many others were removed.

The increased rates for various products and services will come into effect from Monday, July 18.

Here’s what will get costly from Monday:

  • 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 by 18 per cent

  • Power-driven pumps, bicycle pumps, dairy machinery by 18 per cent

  • Machines used for cleaning, sorting, grading seeds, and grain pulses; machines used in milling/cereals industry; air-based atta chakki and wet grinder by 18 per cent

  • Cheques, lose or in book form by 18 per cent

  • Solar water heater and system by 12 per cent

  • Leather (prepared, finished, chamois and composition) by 12 per cent

  • Printed maps and charts of all kinds by 12 per cent

  • 12 per cent on hotel accommodation priced up to Rs 1,000 per day

  • Room rent, except ICU, more than Rs 5,000 per day patient charged by a hospital taxed 5 per cent to the extent of charge of the room without ITC

  • Works contract for roads, bridges, railways, metro, effluent treatment plant, crematorium and others by 18 per cent

  • 18 per cent GST for work contract for historical monuments, canals, dams, pipelines, plants for water supply, educational institutions, hospitals etc supplied to central,m state goverments and local authorities and sub-contractor thereof

  • Works contract supplied to central and state governments, union territories & local authorities for earthwork and sub-contracts thereof 12 per cent

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Fri, July 15 2022. 14:17 IST


Source link

Comments are closed.