GST Hike: These Essential Commodities Will Become Dearer

The new Goods and Service Tax rates will come into effect from Monday. The  47th meeting of the GST Council was held last month, which was chaired by union finance minister Nirmala Sitharaman. Now, the customers have to pay more for a few products and services from today. While the GST on some products is being increased and on some products, it is less. Here is the list of items that have become expensive and cheaper.

Here Is The List Of Products That Will Be Costly

• 5 percent GST on pre-packed, labelled food items like atta, paneer, and curd.
• 5 percent GST on hospital rooms with rent above Rs. 5,000
• 12 Percent GST on Maps and charts, including atlases.
• 18 percent GST  on tetra packs.
• 18 percent GST on fees charged by banks for the issue of cheques (loose or in book form).
• Tax rates on products such as printing, writing or drawing ink; knives with cutting blades, paper knives, and pencil sharpeners; LED lamps; drawing and marking out instruments will be hiked to 18 percent from 12 percent currently.
• 12 percent GST on Solar water heaters.
• Work contract for historical monuments, canals, dams, pipelines, plants for water supply, educational institutions, hospitals, etc supplied to central, state governments and local authorities and sub-contractor to attract 18 percent GST.
• Services rendered by regulators such as RBI, IRDA and SEBI will be taxed at 18 percent and so will be renting of a residential dwelling to business entities.