GST 2.0: GST 2.0 is going to be implemented from tomorrow i.e. 22 September. This will make many things cheaper from the things used in the kitchen to electronics, medicine and automobiles. Under GST reforms, low GST rates have been implemented on about 375 items.
Union Finance Minister Nirmala Sitharaman said that the council has approved GST slab from four (5 percent, 12 percent, 18 percent and 28 percent) to two slabs (5 percent and 18 %) structure. Along with this, there is also talk of installing 40 percent on many sin goods like cigarette, tobacco, alcohol.
Middle class will get big relief
Finance Minister Nirmala Sitharaman said that the objective of GST reform is to provide relief to the common man and middle class. On the occasion of Independence Day, Prime Minister Narendra Modi announced the release of Next Generation GST form from the ramparts of the Red Fort. PM Modi had said that this will make everyday things cheaper and the economy will boost. Let us see which goods will become cheap under GST 2.0-
These stuff will become cheap
From tomorrow, more than 375 things including automobiles, electronics, kitchen items and medicines will become cheaper for you. Let’s take a look at this list.
- Milk, coffee, condensed milk, biscuits, butter, grains, cornflakes, packed water in 20 liters of bottle, dried fruits, fruit pulp or fruit juice, ghee, ice cream, jam and jelly, ketchup, namkeen, cheese, pastry, sausage and meats, and coconut water will become cheaper. Apart from these, after-shave lotion, face cream, face powder, hair oil, shampoo, shaving cream, talcum powder, toothbrush and toilet soap bars can be seen decreased.
- The prices of air conditioner (AC), dishwasher, television (TV) and washing machines will decrease in the electronics segment. The prices of medicines for the common man will be low, GST has been reduced to 5 percent on medical devices such as diagnostic kits and glucometer, which can also reduce prices. According to a report by PTI, the government has already instructed medicines shops to change their MRP or sell medicines at a low rate keeping in mind the GST reform. GST has also been cut for physical and well being services such as barber, fitness center, health club, salon and yoga, which can benefit people.
- GST on cement has been reduced from 28 percent to 18 percent, which is likely to reduce the prices of homes. This is expected to promote the real estate sector. The biggest advantage of GST reform has been to the auto sector, in which the tax including cess has been reduced to 35-50 percent to 40 percent. Significantly, after the announcement of GST rate cuts, several consumer brands including Amul, HUL, Laraliel and Himalaya announced a decrease in the prices of their products. Auto brands also left no stone unturned to reduce the rate from September 22, 2025.
Also read:
Tax reforms going to be implemented from tomorrow, know what is GST and why it is necessary?
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