05 November Tuesday

Household Item Prices To Shoot Up; New GST Rates From Monday

Web Desk(Tvm)Updated: Sunday Jul 17, 2022

New Delhi : Running household will get costlier from Monday with GST rates  hiked by 5 percent for everyday commodities including milk products.  In the meeting chaired by Union finance minister Nirmala Sitaram in Chandigarh, it has been decided to hike GST for items in the 5,12 and 18 slab.

List of household items set to shoot up from Monday, 18 July:
·    Curd, Lassi, Buttermilk (5% GST)
·    Paneer (5% GST)
·    Jaggery of all types including Cane Jaggery (chakara), Palm Jaggery (5% GST)
·    Khandsari Sugar (5% GST)
·    Natural Honey (5% GST)
·    Puffed rice (pori), flattened or beaten rice, (aval), parched rice , rice coated withsugar (Murku) (5% GST)
·    Rice, Wheat, Rye, Barley, Oats (5% GST)
·    Wheat & Maida Flour (5% GST)
·    Tender coconut water (12% GST)
·    Rice Flour (5% GST)

Other items slated for higher GST
·    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, loose or in book form by 18%
·    Solar water heater and system by 12%
·    Leather (prepared, finished, chamois and composition) by 12%
·    Printed maps and charts of all kinds by 12%
·    12% GST 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% 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%
·    18% GST for work contract for historical monuments, canals, dams, pipelines, plants for water supply, educational institutions, hospitals etc supplied to central, state governments 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%

GST: GST is a single, indirect tax levied by the Central government. The regime was introduced on July 1, 2017, and states were assured of compensation for the revenue loss till June 2022, arising on account of the GST rollout. However, several states including Kerala have huge receivables pending, straining domestic budgets heavily.


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