GST: Many items including ghee-peak, soap, shoes and slippers will become cheap! Tax slab may decrease
The prices of everyday goods may see a decline in the coming days. In fact, the government is considering cutting 12 percent GST slab rate on these goods. According to the news of Livehindustan, many items including ghee-makhan, soap, shoes and slippers will be available at cheap prices. According to the news, the government intends to give relief to middle class and lower middle class. The government is considering to reduce 12 percent GST slab to 5 percent.
Things that can be cheaper
According to the news, if the government implements 5 percent GST slab, then you will get shoes and clothes less than Rs 1000 at cheap prices. Talking about dairy products, the prices of ghee, butter, cheese, dairy spreads will also decrease. Apart from this, processed meat-fish, toffee-kandi and dairy drinks, vinegar, vegetables, fruit dry fruits, salty, bhujia, soya bari, cotton hand bag, 20 liters of seal closed water bottle, glasses, pencils, sports items, pasta, noodles, macaroni fruit, mushrooms etc. will be available.
States will agree important
The consent of the states will also be very important to reduce the slab of 12 percent GST rate to be levied on everyday goods. The central government will have to prepare the state governments for this, as their tax revenue may decline by reducing the slab to 5 percent. However, customers will benefit greatly. This can be decided in the next GST Council meeting. The Finance Minister has also said earlier that we will take the right decision keeping in mind the middle and lower middle class.
Alternatively, the government may choose to completely eliminate 12% slab and reall the objects to the existing lower or high slab. If the government takes this decision, it can help reduce inflation pressure on essential commodities consumed by a large part of the population.
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