The price of these things will change from tomorrow, know what will be the effect on your pocket:

Once again, the Goods and Services Tax (GST) Council has changed the tax rates on many things related to the life of the common man. These new rules are being implemented from tomorrow i.e. from the beginning of next month. In the last meeting of the GST Council, an attempt has been made to give relief by cheapering some things, while the tax on some services has also been made expensive.

This time a change has been done especially keeping small traders, farmers and common man in mind. So let’s understand in easy language what is getting expensive since tomorrow and what cheap.

What is happening cheap? (Your pocket will get relief)

1. Millions flour: There is good news for people aware about health. The government is promoting flour of coarse grains (such as millet, jowar, ragi). If you buy the dough of the millets closed in the packet, on which there are up to 70% of the millets, then it will now only be charged only 5% GST, which was 18% earlier. This means that this nutritious flour will now be cheaper.
2. Jaggery and molasses: The rate of GST has also been reduced from 18% to 5% on molasses (Rab) used in making jaggery. This will reduce the cost of making jaggery and it is expected that you will also get jaggery in the market at cheap prices.
3. Threads made of old clothes: Tax has also been reduced from 12% to 5% on threads made from torn and old clothes. This will also benefit the environment and people associated with this industry will also get relief.

What is happening expensive? (You have to spend more money here)

1. Tax on corporate guarantee: It will now be expensive for companies to guarantee your assistant (subsidiary) company. Now they have to give 18% GST on the total amount of guarantee given to them. This will have a direct impact not on the common man, but on the corporate world.
2. Foreign ships rent: If an Indian company rented a foreign ship (Vastal), then GST will now have to be given on it. Earlier there was a discount on it.

What is special for traders and farmers?

• Relief to e-commerce people: Now small traders who sell goods on e-commerce platforms like Amazon or Flipkart have been given some relief in GST registration.
• Benefits to farmers: The extra neutral alcohol (ENA) used in making manure and alcohol is excluded from the purview of GST, which has reduced the possibility of increasing the prices of these things.

Overall, this time the government has tried to give relief to healthy food items and small industries. So when you go to the market tomorrow, then take care of these changes.