LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • India
    • Economy
    • Politics
    • Markets
  • World
    • Economy
    • Politics
    • Markets
  • Companies
    • Auto
    • Banking & Financial Services
    • Pharma
    • Energy
    • Infrastructure
    • Media
    • IT
    • Telecom
    • Consumer Products
    • Aviation
    • FMCG
  • Personal Finance
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
  • Mutual Funds
  • Technology
  • Automobile
    • Cars
    • Bikes
  • Small Business
    • SME
    • Startups
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
    • AUTHORS
Home » India News

GST launched: These items to hurt your pockets

With GST rollout, the cost of whether it is cars, financial services, essential items or travel tickets, everything will change. 

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
GST launched: These items to hurt your pockets
Representational Image: Photo: Pixabay
Written By: ZeeBiz WebTeam
Updated: Sat, Jul 01, 2017
01:03 pm
Mumbai, ZeeBiz WebDesk
RELATED NEWS
GST launched: Is your monthly household budget ready? GST launched: Is your monthly household budget ready?
GST launched: Here's a look at tax slabs for household items GST launched: Here's a look at tax slabs for household items
GST to create one lakh jobs in three months GST to create one lakh jobs in three months
GST impact: Coca-Cola to raise price of aerated drinks GST impact: Coca-Cola to raise price of aerated drinks
GST: Planning to invest in India? NRIs too need to get registration done GST: Planning to invest in India? NRIs too need to get registration done

Goods and Service Tax (GST) has finally launched and will be the new face of India's tax structure. 

With GST rollout, the cost of whether it is cars, financial services, essential items or travel tickets, everything will change. 

Nearly 50% of goods fall under the 18% tax rate, 14% of goods fall under 5% tax rate, 17% under 12% tax rate and 19% under 28% tax rate. In case of services, the majority of services come within the 18% tax rate.

While the government is focussing on what will become "cheaper", here's a list that will be "expensive" from now:

Food items: Food items like Tea, Coffee and spices will be taxed at 5% as against 3-4% currently. 

Luxury goods, tobacco products, aerated drinks: GST will be taxed at 28%

Footwear: Post GST, footwear will attract 18% tax. 

Train tickets and Airline tickets: Where government kept GST rate of 5% for airlines economy class from previous 6%, it has increased GST rate to 12% for airlines business class from current 9% rates. 

AC and first-class train travel has been brought at 5% slab under GST from 4.5% current tax - slightly higher. 

Mobile Phones: All the mobile phone users will pay 3% extra service tax for their mobile phone usage. The GST Council has put telecom services under the 18% slab from current telecom service tax of 15%. 

Television and other household items: Items like television, refrigerator, AC and washing machine will attract 28% tax as against 23-28% currently. 

Entertainment: Movie tickets above Rs 100 will cost more with 28% post GST.

TAGS:
GST launchGSTGST Impactcostlier itemsGST rolloutTax slabsGST ratesEconomyGST Day 1
Next Article

NEXT STORY: GST launched: Here's a look at tax slabs for household items

RELATED NEWS
GST launched: Is your monthly household budget ready? GST launched: Is your monthly household budget ready?
GST launched: Here's a look at tax slabs for household items GST launched: Here's a look at tax slabs for household items
GST to create one lakh jobs in three months GST to create one lakh jobs in three months
GST impact: Coca-Cola to raise price of aerated drinks GST impact: Coca-Cola to raise price of aerated drinks
GST: Planning to invest in India? NRIs too need to get registration done GST: Planning to invest in India? NRIs too need to get registration done

LATEST NEWS

Another reason to buy ISUZU mu-X? Unbeatable! 8-year/200,000 kms warranty is here

Rs 2000 notes to be banned or not? All doubts cleared! Check latest news, answer directly from Modi government

Indian Railways warns jobs aspirants against fake recruitment - Read full details of important information from Railway Board here

First time ever in auto sector? Honda comes up with 10 year any time warranty program - What it is and how it works

Bank Savings Account vs Liquid mutual funds: Which one is better for you and why? Check what experts say

Infosys Lawsuit: IT giant says is not aware of any additional complaints

Make money for your children's education! Top 5 mutual fund plans to empower kids

Ujjivan Bank share price skyrockets! Experts dub it Multibagger stock, say it is a money-spinner for investors going forward

No gratuity payment for services below 5 years! New rule coming soon; Check your eligibility

PF Withdrawal: Taken money out of Provident Fund Account? Do this to pare loss to your retirement fund

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO Pension
  • Income Tax Return
  • Hyundai Venue
  • NPA
  • Home Loan

Trending Topics

  • Income Tax
  • 7th Pay Commission
  • Reserve Bank of India
  • PACL Refund Claim Online
  • GST
  • income Tax Calculator

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved