New rates of GST (GST) are going to be implemented from 22 September. This change will change the budget for the month of urban families. Many things and services will be cheaper, then the expenditure on some will increase. Let us know what will be the effect on your everyday life with GST 2.0. Let's know
According to the report of FICCI and Thought Arbitration Research Institute, now 66% of the total expenditure of urban families will go on things and services that will take either 0% or only 5% GST. Right now this part is about 50%.
The biggest relief will be available on daily services. Now services like salons, spas, gym and yoga will be replaced by only 5% GST instead of 18%. For example, if someone's salon bill is Rs 2,000, then it will now be taxed at Rs 100, whereas earlier he had to pay 360 rupees. However, business people will not get the benefit of input tax credit.
Essential items like soap, shampoo, shaving cream, toothpaste, toothbrush, dental floss and face powder have now come into 5% slab. Taxes on leaflet glasses have come down to just 5%. The bicycle and its parts will now be charged 5% GST instead of 12%. However, the mouthwash is not yet involved in this change.
Those who order online food will get a shock. From September 22, apps like Zomato, Swigy and Magicpin will levy 18% GST on delivery charge. This will cost additional cost of 2 to 2.6 rupees on every order. This effect will be clearly visible for those who repeatedly order during the festive season. The new GST rates will save urban families in personal care and essential goods. Services like salon, gym and yoga will also be relieved. But, if you ask for food online again and again, then the delivery charge will have to be paid more than before.
