Under the proposal, the goods and services currently taxed at 12% would be moved to the 5% category
New GST Plan, What's Cheaper Latest News Today: Prices of several household items and services may witness a drop if the central government’s proposal to overhaul the GST structure gets implemented. As per the government sources, the plan seeks to remove the current 12% and 28% slabs, and bring in the streamlined two-rate system of 5% and 18%.
Under the proposal, the goods and services currently taxed at 12% would be moved to the 5% category, while those at 28% would shift to 18%, except for select luxury and sin goods.
Likely to Get Cheaper
If implemented, the following could see noticeable price reductions:
- Butter, ghee, and other dairy products
- Processed foods such as pickles, jams, jellies, murabba, and fruit juice
- Almonds, packaged coconut water, and umbrellas
Services That Could Benefit
- Hotel stays priced up to Rs 7,500 per night
- Air travel in non-economy classes
- Certain construction and multimodal transport services
- Specific professional service categories
The GST Council is expected to discuss and decide on the proposal in an upcoming meeting. If approved, the changes could simplify the tax system and offer relief to consumers’ wallets.
(For more news apart from 'Butter, Ghee, and Hotel Stays Could Cost Less Under New GST Plan,' stay tuned to Rozana Spokesman)
