Now let’s see which things can be cheaper in the GST meeting? Can the price of any thing increase again?
Pan masala aims to prevent tax evasion
Tax evasion is a primary problem in the pan masala and gutkha industries. The report of GoM headed by Odisha Finance Minister Niranjan Pujari is likely to be discussed in the meeting. In this GST meeting, additional tax may be levied on items like gutkha and panmasala. In that case, the price of pan masala and gutkhar may increase. (Photo courtesy – ANI)
How can the tax structure be in the case of pan masala?
If the new plan is implemented, the price of pan masala may increase. Because, in this case the retailers pay less tax, but the paan masala manufacturers have to pay more tax. For example, a Rs 5 paan masala packet would have to pay Rs 1.46 GST to pan masala manufacturers. On the other hand, retailers had to pay 88 paise. But as per the new proposal, pan masala manufacturers will have to pay GST of Rs 2.06. (Image courtesy – Pixabay)
Changes in GST on various tobacco products
On the other hand, currently 28 percent GST is levied on tobacco products. According to the sources, according to the government plan, hookah, tobacco etc. may be taxed separately. In that case, the maximum tax on retail sales can be 69 percent. On the other hand, the 28 percent GST on multiple products may come down to 12 percent. (Image courtesy – Pixabay)
GST may be decided in respect of millets
The GST Council meeting may reduce the tax on millet national product from 18 percent to 5 percent. There is a possibility of discussing this in this GST meeting. There may also be a recommendation to abolish GST on millets sold in the open. (Image courtesy – Pixabay)
The price of some things may increase
The cost of issuing bank check books may increase, the cost of hospital beds may also increase, the cost of LED lights, lamps may increase. Besides, the prices of kitchen steel spoons, knives, pencil sharpeners may increase. On the other hand, the cost of pumps and machines may also increase. (Image courtesy – Pixabay)
Can any thing be cheap?
Price of packaged food may come down. Besides, things like ropeway rides, orthopedic machines, defense sector products, cement, writing paper etc. can be cheaper. A decision in this regard may be taken in the GST Council meeting. (Image courtesy – Pixabay)