Impact of GST rates on your Household Budget; Who won, who lost?

Yes yes, GST rates are here! India has cleared the way for the biggest tax reform since independence in 1947.

The main beneficiaries of the new goods and services tax, due to be rolled out on July 1, include steelmakers and some consumer goods.

• The food items which currently attracted an average of 12.5% tax under VAT laws will now be taxed at 5% under the new regime.
• Entertainment activities, household and personal care products will become cheaper under the upcoming regime.
• 18% tax slab for telecom, financial services.
• Service tax on non-AC hotels will be 12%, on AC hotels that serve liquor will be 18%. Higher tax rate for luxury hotels.
• Hotels and lodges with tariff below Rs 1,000 will be exempt. Those with Rs 2,500-5,000 will be 18%. Luxury hotels will face tax of 28%.

Impact on E-Commerce:

1. E-commerce players to deduct 1% tax at source before paying suppliers. E-retailers such as Flipkart and Snapdeal to pay GST.
2. 5% tax to be levied on cab aggregators like Ola and Uber

Here is the snapshot of the impact of GST rates on your household budget:

Log on to www.CA In Delhi.in for your business needs. Mail us at info@CA In Delhi.in.

 
 
 
 
 
 
 
  
 
 
 
  
 
 
 Rahul Bhandari 
 
2021-07-07
 
 
  
Good environment
  
 
  
 
 
 
  
 
 
 Dhruv Gupta 
 
2021-05-09
 
 
  
Their expertise in tax planning is commendable!
  
 
  
 
 
 
  
 
 
 rahul tiwari 
 
2021-04-07
 
 
  
Solid domain knowledge, very professional .
  
 
  
 
 
 
  
 
 
 Manoj Singh 
 
2021-03-11
 
 
  
Very responsive and polite. Great experience.
  
 
  
 
 
 
  
 
 
 Vinod Kumar 
 
2020-11-27
 
 
  
Had a good experience. Filed my ITR digitally with quick turnaround time.
  
 
  
 
 
 
  
 
 
 Gaurav Thakur 
 
2019-12-22
 
 
  
Professional behavior
  
 
  
 
 
 
 
 
 
 Google rating score: 4.8 of 5, based on 56 reviews