Since July 1, notebooks, domestic LPG, aluminum foil, insulin, agarbattis and large quantities of daily-use household items will become cheaper after GST is implemented. The Finance Ministry has said in a statement that the tax rates approved by GST Council on domestic use are very less compared to the indirect tax rates imposed by the Center and the states.
Significantly, the new indirect tax in the country will come into effect from July 1, in which the Central and State Governments will meet together after the GST rates on the items are approved by the GST Council. Items which have less GST than the existing joint indirect taxes, include milk powder, curd, butter, natural honey, dairy spread, paneer, spices, tea, wheat, rice, flour and spices.
In addition, peanut oil, palm oil, sunflower oil, coconut oil, mustard oil, sugar, pasta, spaghetti, macronie, noodles, fruits and vegetables, pickle, marmalade, chutney, dessert, ketchup and sauce are also reduced. . The Ministry of Finance has released a list of items in which the rates of GST will be lower than the existing taxes. This list includes topping, spread and sauce, instant food mix, mini water, ice, cement, coal, kerosene, domestic LPG, insulin, agarbatti, toothpaste, hair oil, mascara, soap, x-ray film.
Under the new tax, plastic tarpaulin, school bag, exercise book, notebook, kite, children’s picture, drawing or coloring books, silk and woolen cloth, some types of cotton fabrics and specialized readymade garments, 500 rupees shoes and Rates are also kept low on the helmet. Tax rates on ash made bricks, blocks made from ashes, glasses, LPG stoves, spoons, forks, scimmers, cake servers, fish knives, tongs, tractors of last tractors and weighing machinery have been kept low.
GST Council, headed by State Finance Ministers and Union Finance Minister, had decided to implement GST rates on all goods and services during May and June. Council will meet on June 18 to formulate rules on e-rules and anti-profits norms.