GST implemented, everything from bikes to coolers and fridges became cheaper

GST 2.0: GST Reforms 2.0 have been implemented, bringing significant relief from inflation in the market. Prices of daily groceries, dairy products, electronic goods, and vehicles will be significantly reduced. Companies and shopkeepers will be required to reduce the prices of their products starting today.

Taxes will increase on some luxury goods, making them more expensive. This means that the new tax slabs will benefit a larger population. A few days ago, the central government created two GST slabs, eliminating two of the four existing ones. The following report can clear up any confusion about what will be cheaper in the market.

What will be cheaper?

The central government has approved GST slabs of 18% and 5%. The new tax infrastructure has been designed to make essential commodities and mass-market products more affordable. According to a report, dairy products, as well as other everyday items like edible oil, packaged flour, and soap, have become cheaper.

Prices of everything from student education to medicines, cars, bikes, air conditioners, and televisions have fallen. Food products will be subject to zero GST. Furthermore, several other products have been removed from the GST ambit.

These items will become cheaper.r

The government has exempted food products from GST. These include UHT milk, paneer, pizza, all types of bread, ready-to-eat roti, and ready-to-eat paratha, all of which will see a drop in price. Children’s education products, including pencils, cutters, erasers, notebooks, maps, globes, water survey charts, atlases, practice books, and graph books, have been exempted from GST.

This means that all these items previously attracted a 12% GST. The GST slab on 33 life-saving medications has now been abolished. Medicines for three cancer diseases have also been made cheaper. Individual health and life insurance policies have been removed from GST, meaning a large number of people will benefit from this.

Bikes with a displacement of 350 cc or less will become cheaper. Vehicles under 4 meters in length have also become cheaper. Be sure to check with distributors before purchasing.