GST council meeting chaired by Finance Minister on 28th and 29th June has decided to hike tax rate over two dozen goods and services, ranging from unbranded food items, curd and butter milk to low-cost hotels, cheques and maps.
However, tax rates will be lowered for about half a dozen goods and services, including ropeways and truck rentals where fuel costs are included, and scrapped for products imported by private vendors for use by defence forces.
Some of major items that have become costlier:
- 5 % GST on prepacked and labelled foods items such as meat, fish, curd, paneer and honey will now attract 5% GST
- 18% GST on fee charged by banks for the issue of cheques
- 12% GST on Maps and Charts including Altases
- 12 per cent tax on hotel rooms below Rs 1,000 per day will as against a tax exemption currently
- 18% GST on work contract for roads, railways,metro, monuments, canals dams, hospitals, educational institutions.
- 18% GST on dairy machinery
- 12% GST on solar water heater and system
- 18% GST on knives,spoons, forks and ladles
- 18 % GST on LED lamps and lights
- 18% GST on water pumps, tube-well turbine pumps
The rate hike will be applicable from 18th July, 2022
Knowledge Source :
1% TDSs on Virtual Digital Assets from 1st July