GST 2.0 Explained: Full List of Cheaper and Costlier Goods
The new GST 2.0 has come into effect in India, simplifying tax slabs to 5% and 18%. Many services related to education and health have been given a full tax exemption.
Cheaper Items
India's new GST 2.0 is now live, simplifying tax slabs to 5% and 18%. Many items will get cheaper, while a 40% 'sin tax' applies to items like tobacco and alcohol.
Tax-Free Items
Completely tax-exempt items:
Packaged paneer, UHT milk, traditional breads, 33 life-saving drugs, school supplies, and private tuitions up to 12th grade.
Relief for the common person
Items getting cheaper:
Daily use items like soap and snacks now have 5% GST. ACs, fridges, and small cars will be cheaper as GST drops from 28% to 18%.
Price Hike Items
Insurance gets cheaper with lower GST. Items getting costlier: Tobacco, pan masala, luxury cars, SUVs, and bikes over 350cc will now have a 40% tax.
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