Goods & Services Tax (GST): What became dearer and cheaper

[rahul1117kumar]

Finance Minister Arun Jaitley on Wednesday moved the Constitution (One Hundred and Twenty-Second Amendment) Bill, 2014, for passage and initiated a debate on the GST Bill.

This Bill will pave the way for the introduction of a pan-India GST regime.

The government is mooting to keep the GST between 18-22 percent. If government accepts minimum rate of GST, then Goods will become cheaper (considering the fact that there is over 25 percent tax on them currently), while services will become dearer (because the current service is 14.5).

Here is the list of items that are likely to get cheaper and dearer when GST Bill becomes a reality.

Following items may get cheaper

Price of SUVs may fall

Car batteries prices

Paint, cement prices

Movie ticket prices as entertainment tax will come down

Electronics items like fans, lighting, water heaters, air coolers


Following items may get dearer

Hotels and restaurants

Cigarette prices because tobacco tax will be higher than current one

Mobile phone calls

Textile and branded jewellery items

Airline, train tickets


GST: What may become dearer and cheaper | Zee News

 

[Rom1moR]

 

[Rom1moR]

 

[98shubhamk]

What about DTH packages?

 

[Shubh]

What about DTH packages?

as current st rate 15% gst rate will be 18 to 22% so it will increase

 

[Rom1moR]

Currently, the effective tax rate for the DTH providers ranges between 20-21 per cent ( this includes service tax of 14 per cent and entertainment tax of around 5-7 per cent). 

The effective tax range for the broadcasters is around 14-15 per cent. 

Highlights:- 

► On implementation of GST, a blanket rate of around 18-20 per cent will apply, which is lower than current tax rate for the DTH provider and higher for the broadcaster. 




Impact:- 

► Implementation of GST will be healthy for the DTH providers and downbeat for broadcasters. 



Key beneficiary: Dish TV

 

[98shubhamk]

Will income tax will get closed then? :Aw

 

[Sarkar]

as current st rate 15% gst rate will be 18 to 22% so it will increase

You didn't add entertainment tax which is as high as Rs 50 in some states, there is also VAT, custom duty(on STB) and inter-state trade tax,sales tax etc with GST all other taxes will be abolished. Now decide which is benificial 

 

[98shubhamk]

You didn't add entertainment tax which is as high as Rs 50 in some states, there is also VAT, custom duty(on STB) and inter-state trade tax,sales tax etc with GST all other taxes will be abolished. Now decide which is benificial 

What about income tax

 

[Sarkar]

What about income tax

GST is the reform of indirect tax system in India where as Income tax is a Direct tax  :k