The Prime Minister explained that the highlight of the new GST reforms is that there will now be only two main tax rates. Essential food items, medicines, soap, toothpaste, and many other items will be available at either 0% (zero) or 5%.
Life insurance policies will be exempted after the implementation of the new GST rates. All individual life insurance policies are now exempt from GST.
The maximum retail price of packaged drinking water bottles “Rail Neer” will be revised from Rs. 15 to Rs. 14 for a 1-liter bottle and from Rs. 10 to Rs. 9 for a 500 ml bottle.
Mother Dairy cuts milk and dairy product prices after GST rate reduction, benefiting consumers with affordable rates while boosting the dairy sector and supporting farmers nationwide.
The GST rates applicable on gold and silver will remain the same as before, i.e. 3% GST on gold and 5% GST on making charges will remain applicable.
Most cars would fall into the 18% tax slab under this new arrangement. Consequently vehicles that currently pay 28% GST would only pay 18%.
The Modi government is once again set to directly affect household budgets – this time through potential GST relief measures
The Guwahati High Court has quashed the order cancelling his GST registration. Read further on Dynamite News:
The GST Council is headed by the Union Finance Minister and comprises representatives of all States and UTs. Read further on Dynamite News:
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