Skip to main content

Few more days for GST to roll out.. Know what changes this would bring to a common household’s life.

Goods and service taxes, as the name suggests, are the taxes levied on the goods and services we consume. Currently most of these goods and services come under a taxation policy that imposes many different taxes on them like excise, VAT, service tax. If you have noticed any of your recent restaurant bills, you can find changes under various category of taxes. This is what the GST would be replacing. There would be only one category of taxes shown on such bills after 1 July 2017.    


For GST imposition the goods and services we consume are categorized under four major heads. Thus you can say that there are 4 tax slabs under GST. The following points are worth noting regarding this new taxation system:
  • The first category of goods include Edible oil, spices, tea, coffee on which current taxes make upto 9% however, GST would be only 5% on these goods. So you next purchase of these daily needs is going to be cheaper.
  • The second category is of 12% GST that would be levied on Computers, processed food on which we currently pay taxes between 9 to 15%. Thus, few goods in this category would get cheaper and few would become a bit costlier.
  • The third category of products include Soaps, oil, shaving sticks etc. which would be charged at 18% under GST reforming the current taxes that charge between 15 to 21 %.
  • The last category of goods are luxury goods and include luxury cars, tobacco, aerated drinks which are surely going to become costlier under GST which is going to charge 28% instead of currently levied taxes that make up only 21%.
  • GST will make small cars, DTH service, eating at restaurants and daily need products like soaps, shampoos, chocolates cheaper for us.
  • Buying smartphones, buying jewelry and buying or renewal of insurance is going to be costlier with GST.
  • Online shopping may also become a less goods deal with GST.
  • Electric fans, coolers, LED TVs and readymade clothes are some of the useful electronic items that would go cheaper with GST.
  • Courier services, staying at start rating hotels and eating at five starts would become costlier.
Note that road taxes and toll taxes are not part of GST so they are going remain as they are.

(This information is collected form trustworthy newspaper and new articles.)

Listen This Post Stop Listening Post

Comments

  1. Thanks for the information. This post clarifies so much.

    ReplyDelete
  2. Wow! This is explained so well! I actually did not realise GST would affect so many aspects of daily life till I read this! Thanks for sharing. This is really handy!

    ReplyDelete
  3. Oh thanks for sharing this. I had no idea that some goods would actually become cheaper.

    ReplyDelete
  4. Great piece of information about GST... we will soon be launched to the new world of GST...

    ReplyDelete

Post a comment

Popular posts from this blog

My 'Invisible' Accomplishments #DecadeHop #RRxMM

As we entered 2020, through this post I am trying to contemplate the coolest, most daring, and most significant feats of my life during the last decade. Now the more I regress my memory, the more I feel there are two types of achievements or accomplishments that I can ponder upon; Visible and Invisible. Visible ones are those that I can count on my finger like a parrot and others can nod also. I got specs on, married to a not-so-romantic man, produced a baby, started writing and added good 17 kgs in my body volume (I was 50 in 2011). However, there are many invisible accomplishments too that either I know silently or very few can assert. From 2011 to 2019, Who am I now From a coy soul to now an outspoken woman, the trek was not easy. I achieved it. From being a no-makeup girl to now a lipstick swatches observer, the transition was tough. But it happened. And from being a sweet hater to now a sweet lover, the change was mysterious yet occurred. And now I can die for Gulab Jamuns.

Worshiping Krishna.. वसुदॆव सुतं दॆवं कंस चाणूर मर्दनम्..

Shri Krishna Ashtakam is a worshiping prayer devoted to Lord  Krishna praising his powers and glory. Ashtakam means a prayer which contains eight hymns(slokas). Each hymn or verse is composed of four phrases, each describing one quality or great acts of Sri Krishna. And, each sloka is composed in two lines. It is believed that krishnashtakam lyrics possess great powers. Here is the English translation of this holy verse : वसुदॆव सुतं दॆवं कंस चाणूर मर्दनम् । दॆवकी परमानन्दं कृष्णं वन्दॆ जगद्गुरुम् ॥1॥ Vasudeva Sutam Devam Kansa Chanura Mardanam... Devaki Paramanandam Krishnam Vande Jagadgurum.. I pay my tribute to the teacher of this world Krishna, who is the son of Vasudev, who killed Kansa and Chanura and who is the source of great joy to Devaki. अतसी पुष्प सङ्काशं हार नूपुर शॊभितम् ।रत्न कङ्कण कॆयूरं कृष्णं वन्दॆ जगद्गुरुम् ॥ |2| Atasi Pushpa Sankasham Hara Nupura Shobhitam..Ratna Kankana Keyuram Krishnam Vande Jagadgurum... I salute to the teacher of this world Krishna,

#TheWomanThatIAm #RRxMM I am not the woman who..

I am not the mother who.. I am not the mother who stayed longer with her newborn, I resumed office when he was barely 2 months old. I am not the mother who witnessed each of my kid's milestones, I got to know them when being told. I am not the mother who could tell breastfeeding stories, my child is a formula-fed gold. I am not the mother who keeps the house spotless, I let my son scatter toys and go overbold. I am not the mother who manages a detailed list for parenting chores, I often keep my to-dos on hold. I am not the mother whom people admire, I hear people calling me selfish and cold. ALSO I am a doting mother who tries to juggle between family and work every other minute.  I am a mother who watches silly cartoons with my boy.  I am a mother who repeatedly tells the same story every night.  I am a mother who cooks my son's favorite food every week.  And I am also a mother who is the closest person in my son's life! I am not the wife wh