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.
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.
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.
