GST Rates– Finance Minister Nirmala Sitharaman announced major changes in GST on September 3. GST 2.0 will adopt a simple structure of two slabs. Under the new GST rate , a high tax slab of 40% has been imposed on luxury and harmful goods. Many things are becoming cheaper. But some items are also becoming expensive. Today we will tell you about those expensive items which are becoming expensive from September 22.
India’s GST system is going through a historic change. With the new GST reforms, all items will now come under the slabs of 5%, 18% and 40% only. The new GST rates are being implemented from 22 September. Most of the everyday items will become cheaper. The prices of some products that people use regularly will increase.
What is becoming expensive from September 22?
The upper rate of 40% will apply to products the government wants to discourage or that are considered luxuries. The tax on cola and other carbonated beverages will rise from 28% to 40%.
Sugary juices and energy drinks will also cost more, affecting lunch boxes and urban fitness routines. Pan masala and chewing tobacco have also been placed in this category, a clear sign of a shift towards healthier habits. Luxury motorcycles and expensive cars will also now be taxed at 40%, making things even harder for ambitious buyers.
Pan Masala, All flavored or sweetened waters (including aerated),Other non-alcoholic beverages, Plant-based milk drinks, carbonated fruit drinks ,Caffeinated beverages , Raw tobacco, tobacco residues (excluding leaves) , cigars, cheroot, cigarillos, cigarettes, Other manufactured tobacco and substitutes, Tobacco/nicotine products (non-combustion inhalants), Coal, briquettes, solid fuel made from coal , Lignite (except jet) , Peat (including peat litter), Menthol derivatives (DTMO, DMO, peppermint oil, spearmint oil etc.), Biodiesel (except supplied to OMCs for blending), Motorcycles (above 350cc), SUVs and Luxury Cars, Revolvers and pistols, Aircraft (private jets, business planes, helicopters) and Yachts and recreational vessels will be expensive.
