New Delhi: At the stroke of midnight last night, President Pranab Mukherjee and Prime Minister Narendra Modi launched the biggest fiscal reform since independence, the Goods and Services Tax, enabling a win-win situation for all stakeholders including industry, government and the consumer. Besides rationalising the indirect taxes, the move will spur economic growth, improve ease of doing business and generate more employment opportunities in the country.
Let’s have a comprehensive list of goods and services which have become cheaper and costlier starting today. Items that will now cost less include corn flakes, toothpaste, soap, hair oil, ice cream, cheese, packaged tea and coffee, atta (packed & branded), packed paneer masala, Sweets, packed curd, Economy class air travel. Items which have no impact due to national introduction of GST include milk, fresh vegetables and fruits, bread, Basmati rice, atta, juices and electricity.
Items that will now cost more including cold drinks, chewing gum, chocolate, shampoo, face cream, television, fridge, air conditioner, washing machine, furniture, watches, banking services, leasing of cars, professional services, advertising services, telecom services, cleaning services, beauty parlour services, dry cleaning services, security services, maintenance services, legal services, courier services, edible oil, aluminium foil, packaged chicken, butter, bhujia, packaged pulses, gold, restaurant services, hotel accommodation (For room tariffs above Rs 1000 for a night). (UNI)
