New LPG Price- Good news for everyone. The changes made under GST Reforms have come into effect from 22nd September. Everything from milk, ghee, butter, roti has become cheaper. The new GST rates will be applicable all over India. This will provide great relief to the common people. From food items to almost every item of daily need is getting cheaper. Now, due to the GST rate cut, a question is also arising whether the LPG cylinder will become cheaper or not. Or will it become costlier. Because GST is also levied on LPG. Let us know whether there will be a change in the prices of LPG cylinder from 22nd September?
Different GST rates on domestic and commercial LPG cylinders
LPG cylinders are used as an important fuel in Indian homes, restaurants, hotels, and industries. Did you know that GST rates differ on domestic and commercial LPG cylinders? Whether you’re using them for home cooking or running a food business, understanding the GST on LPG cylinders is crucial for accurate budgeting and tax compliance.
How much GST on domestic LPG?
The GST Council meeting held on September 3rd left no change in the GST rate on domestic LPG cylinders. Starting September 22nd, domestic LPG gas cylinders will still be subject to a 5% GST. The GST Council meeting held on September 3rd left no change in the GST rate on commercial LPG cylinders. Starting September 22nd, the GST rate on commercial cylinders will remain the same at 18%.
Taxes have been reduced on many food items like ghee, cheese, butter, ice cream, pickles, jams and dry fruits. Due to this, FMCG companies are preparing to cut prices. Its direct impact will be seen on the pockets of the customers. Now products like cars, TVs, washing machines and ACs will be cheaper than before.
It is estimated that the prices of TVs may decrease from Rs 2,500 to Rs 85,000. At the same time, room ACs may become cheaper by about Rs 4,700 and dishwashers by about Rs 8,000. Now the tax on small cars has been fixed at 18% and on big cars at 28%. GST on medicines and medical devices has been reduced to 5%.
