GST Implementation
Tax men have slapped a fine of 20000 Rupees on a trader for omitting Rs. 15 GST in a bill.
This zealous implementation of GST is due to discretion of tax officers to define the punishment. Everyone knows How setting an example helps to line up pockets?
And everyone knows whose pockets we are talking about. :)
http://economictimes.indiatimes.com/news/economy/policy/taxmen-slap-big-penalty-to-check-evasion-of-gst/articleshow/60861087.cms
What is expensive?
Biscuits
Biscuits will be taxed at flat 18%
Before GST biscuits were taxed at around 8-9% rate (Parle G retail price is 100Rs per kg)
Banking
Service tax will be 18%
Before GST service tax was 15%
P.S. You must have received the SMS form your bank
Digital Transactions
For Jio money payment to bank transactions service tax will be 18%
Before GST it was 15%
Mc Donalds, Pizza Hut, Subway
Mc Donalds, Pizza Hut, Subway will be taxed at 18%
Before GST they were taxed at 15%
Personal observation: 126.53 Rupees was cost of a subway 6 inch veg before implementing GST
After GST implementation the price has gone up to 129.80 Rupees
LPG Cylinder
In the previous indirect tax regime where separate factory-gate duty and sales tax were levied, LPG attracted a zero or nil excise duty all over the country.
VAT or sales tax was nil in Delhi as well as Chandigarh, Haryana, Jammu and Kashmir, Rajasthan, Tamil Nadu, Uttar Pradesh, West Bengal and some north-eastern states. It ranged from 1 per cent to 5 per cent in other states.
However, under GST, which subsumed more than a dozen central and state levies, a 5 per cent tax was levied on subsidised LPG. This essentially meant that states where VAT was nil or less than 5 per cent, rates have gone up.
The rate of non-subsidised LPG, which consumers pay after exhausting their quota of below-market priced bottles, went up by Rs 11.5 to Rs 564. Such bottles attract an 18 per cent GST.
What will be cheaper?
The GST council has put daily usage goods as bathing soap, hair oil, detergent powder, soap, tissue papers and napkins under 18 per cent tax slab.
HUL has slashed price of Rin bar from 18 Rupees to 15 Rupees for 250 gram soap, and increased weight (grammage) of its Surf Excel bar costing Rs 10 to 105 gm from 95 gm at the same price.
Besides, it is also offering 33 per cent extra in Dove bathing bar.
Coffee, tea, milk powder
GST will tax the above stuff at 5%
Currently they are taxed at 8%
Sources
https://www.google.co.in/amp/m.economictimes.com/industry/cons-products/food/sugar-tea-coffee-milk-powder-to-cost-less-under-gst/amp_articleshow/58843054.cms
Sources :http://economictimes.indiatimes.com/industry/cons-products/fmcg/hul-cuts-prices-of-select-products-post-gst/articleshow/59410231.cms
Subsidised LPG rate hiked by up to Rs 32 per cylinder post GST http://economictimes.indiatimes.com/industry/energy/oil-gas/subsidised-lpg-rate-hiked-by-up-to-rs-32-per-cylinder-post-gst/articleshow/59440252.cms
http://www.thehindubusinessline.com/economy/biscuits-industry-baffled-by-uniform-18-gst-rate/article9720708.ece
http://economictimes.indiatimes.com/news/economy/policy/gst-council-fixes-tax-rates-for-gold-textiles-footwear/articleshow/58977151.cms
