By Admin 
GST 2.0: The GOM accepted the proposal to keep both slabs of 5 percent and 18 % and 18 % and 18 % slab under GST reforms. Siddharth Khemka, Richors head of Wealth Management at Motilal Oswal Financial Services Limited, says, this is the first major step towards implementing the GST reforms of the next generation of Prime Minister Narendra Modi on the occasion of Independence Day. Now the final decision on this will take the GST Council in the meeting to be held in September.
Price will decrease in many important things
Following the approval of GOM, slabs with 28 percent will be included in 18 percent and 12 percent slab in 5 percent slab. With the decrease in GST, along with decreasing the price of essential items, many more things will also become cheaper. Here a list of all those things is being given, which can be cheap and expensive after the implementation of the revised GST rates.
Essential things
From medicines to processed food, non -alcoholic beverages and some dairy products, GST is currently imposed at the rate of 12 percent. All these things can be cheaper with GST reforms. Hotel rooms and some construction materials also come to the slab of 12 percent at present.
Air-Conditioner, Refrigerator
If you want to get a new freeze or AC, then their rates are also going to decrease because where they are currently charged 28 percent GST. At the same time, it will become 18 percent with improvement.
4 wheelers
Four wheelers with engine capacity less than 1,200 cc and two -wheelers up to 500 cc can also be cheap as currently all are 28 percent under GST slab.
New GST slab
A new slab of 40 percent has been proposed under improvement in GST. It includes expensive cars, alcohol, gambling, soft drinks, drugs, fast food, coffee, sugar and tobacco like sin and luxury products. These things can be expensive because currently 28 percent GST is imposed on them.
Explain that Sin Tax is a kind of special tax, which the government imposes on those things which lead to the possibility of loss. Taxes will be expensive due to tax, their demand will be reduced and consumption will decrease, which will also reduce the loss. GOM has also reviewed the proposal of the center to keep health and life insurance premiums out of the purview of GST.
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