Drinking Milk will be expensive from NEXT week, BIG setback for ‘COMMON MAN’ after Nirmala Sitharaman announces THIS

 

From July 18, the prices of several essential commodities are going to increase. From now on, you will have to pay more for daily food items. The decision was taken at the 47th GST meeting chaired by FM Nirmala Sitharaman said. She said that GST rates will increase on some new products and some goods and services from July 18, 2022.

New Delhi: While the rising prices of items of everyday use is constantly impacting the household budget, the common man seems to be having no respite anytime soon. Not only food, the price of various essential commodities is also getting out of reach day by day –all thanks to burgeoning hike of products. Between low incomes and rising expenses, the ordinary Indian household budget has only spiralled over time. Adding to further budgetary woes, people will have to shell out even more for essential food items while some services will be priced higher from next week, after Finance Minister Nirmala Sitharaman’s big decision on GST hike.

Read More: UPI Apps Must Take User Consent For Collecting Location Data: NPCI Guidelines

From July 18, the prices of several essential commodities are going to increase. From now on, you will have to pay more for daily food items. The decision was taken at the 47th GST meeting chaired by FM Nirmala Sitharaman said. She said that GST rates will increase on some new products and some goods and services from July 18, 2022.

Prices of agricultural commodities including pre-packaged labels like cheese, lassi, butter milk, packaged curd, wheat flour, other grains, honey, papad, cereals, meat and fish (excluding freezing), mudi and jaggery are set to go up from July 18. Taxes on these products have been increased. Currently, 5 per cent GST is levied on branded and packaged food items. Products without packs and unlabeled are tax free.

Rates of which items will go up July 18? Here is the full list

The prices of tetra pack yogurt, lassi and butter milk will go up as it will be levied 5% GST from July 18 onwards, which was not applicable earlier.

Read More: GST: GoM Meet On Casino, Online Gaming Tax Remains Inconclusive; To Meet Again Next Month

The service tax that the bank used to charge earlier to issue chequebooks will now attract 18% GST.

A 5 per cent GST will be levied if rooms worth more than Rs 5,000 (non-ICU) are rented out in hospitals.

Apart from these, now even maps with atlases will be levied GST at the rate of 12 per cent.

Hotel rooms with less than Rs 1,000 per day will be charged 12 per cent GST, which has not been levied earlier.

LED light LED lamps will attract 18 per cent GST, which was not applicable earlier.

Blades, paper-cutting scissors, pencil sharpeners, spoons, forks, skimmers and cake-servers were earlier GST of 12 per cent, which is increasing to 18 per cent.

Comments

Post a Comment

Popular posts from this blog

Senior Citizen Train Ticket Discount: Government has issued a new statement regarding giving discount to senior citizens on train tickets, know the details here

Image
  Senior Citizen Train Ticket Discount: Once again a demand has been made in the Lok Sabha to give discount to senior citizens on train tickets. Senior Citizen Train Ticket Discount:  Railways has withdrawn the discount given to senior citizens on train tickets since the Corona period. However, from time to time there has been a demand to restore this concession given to senior citizens in trains. Even in the winter session of the Lok Sabha, some members raised the demand for increasing fare concessions and facilities for senior citizens traveling in trains. However, even before this, Railway Minister Ashwini Vaishnav has told in the Lok Sabha that during the train journey, every passenger is given an average subsidy of 53 percent on the train ticket. Apart from this, he also told who gets discount on tickets while traveling by train. Demand for discount in train tickets raised again During Zero Hour in the House, Janata Dal (United) MP Kaushalendra Kumar said that before the ...
Read more

Cash Transaction Rules: Income tax rules on cash transaction between Husband-Wife and Son-Father, know rules

Image
  Cash Transaction Rules: Income tax keeps an eye on our every transaction. But is there any tax on cash transactions or can Income Tax send a notice? Or how much cash transaction can take place between you and your wife or between father and son? If you also have these questions in your mind, then let us know their answers… If you also transact money between father and son or between husband and wife, then this news is useful for you. Actually, every transaction of ours has an eye on income. In such a situation, a question arises in the minds of many people whether income tax notice can be received even on cash transactions? Let us know how much cash transaction you can do in your family. Income tax sends notice? According to tax experts, if you give money every month for household expenses or give money as a gift, then the wife is not liable for income tax. Both these types of amounts will be considered as the income of the husband. The wife will not receive any notice from the I...
Read more

Have a Current/Savings Bank Account? Know the Cash Deposit Limits under Income Tax Act to avoid Penalties and Notices

Image
  Adhering to cash deposit and withdrawal limits is crucial to remain compliant with the Income Tax Act in India. This article aims to elucidate the various facets of cash-related regulations, encompassing savings and current accounts, fixed deposits, credit card bill payments, real estate transactions, and more.  Cash Deposit Limits in Savings and Current Accounts The Indian Income Tax Act imposes specific regulations on significant cash deposits in savings accounts. Individuals accumulating INR 10 lakh or more during a fiscal year must notify tax authorities.  For current accounts, this threshold is set higher at INR 50 lakh. Although not immediately taxed, financial institutions report transactions exceeding these limits.  Cash Withdrawal and TDS under Section 194N  Section 194N outlines TDS rules for cash withdrawals. A 2% TDS is levied on withdrawals exceeding INR 1 crore within a fiscal year. Non-filers face a 2% TDS on withdrawals over INR 20 lakh and a 5...
Read more