ADVERTISEMENTREMOVE AD

Roti, Kapda, Makaan: How GST Will Affect Your Monthly Budget

Here’s how GST is actually going to affect you by the end of the month.

Updated
Business
3 min read
story-hero-img
i
Aa
Aa
Small
Aa
Medium
Aa
Large

The Goods and Services Tax (GST) has dominated headlines for over a year now, and through all the confusing economic jargon, (and the ‘will they, won’t they’ in Parliament), here’s how India’s biggest tax reform is actually going to affect you by the end of the month.

Should I Even Think About Eating Out?

Here’s how GST is actually going to affect you by the end of the month.
ADVERTISEMENTREMOVE AD

Chai, Coffee, Thanda?

Your daily caffeine kicks are expected to become slightly more expensive. Tea and coffee will be taxed at 5 percent under GST. Currently, these products are taxed at around 3-4 percent. Masala will also be taxed at 5 percent.

Aerated drinks like Coca-Cola and the like are going to become expensive, with taxes at 28 percent. Tobacco and luxury goods will all be taxed at 28 percent too.

The prices of several processed food items are also expected to be slashed by a lot, with tax at 5 percent – a 10 percent fall from the current tax rate.

Now, Put Your Phone Down!

Here’s how GST is actually going to affect you by the end of the month.
ADVERTISEMENTREMOVE AD

What About Personal Upkeep?

Under GST, you can mostly continue to look dapper in public (what nobody else sees, won’t hurt anyone), because at 18 percent tax, personal care products like soaps and toothpaste are actually going to become cheaper. As of now they’re taxed at 24-28 percent.

Shampoos and deodorants, however, are likely to become more expensive. Hygiene on a budget, then?

ADVERTISEMENTREMOVE AD

Picture Dekhein?

Now, the cost of your ticket will vary depending on the state you’re living in.

On movie tickets priced under Rs 100, there will be a uniform 18 percent tax. But for tickets priced above Rs 100, the tax will be 28 percent.

ADVERTISEMENTREMOVE AD

Thinking About Getting Out of Town?

Here’s how GST is actually going to affect you by the end of the month.
ADVERTISEMENTREMOVE AD

Flight Tickets?

If you’re traveling economy, air fares are going to become cheaper with a tax of 5 percent. With 12 percent tax, however, people will have to dig deeper (much deeper) into their pockets, for business class tickets.

ADVERTISEMENTREMOVE AD

Book a Hotel Ya Aise Hi?

If you’re looking for a budget holiday, fret not, you can stay well within your budget. Hotels with tariff rates below Rs 1,000 are exempted from GST.

Only hotels with a tariff of Rs 7,500 and over will be taxed at 28 percent, while those in the Rs 2,500-Rs 7,500 bracket would be subject to 18 percent tax, which 3-4 percent lesser than the tax under the pre-GST regime.

Here’s how GST is actually going to affect you by the end of the month.
ADVERTISEMENTREMOVE AD

Damages on Kapda?

Here’s how GST is actually going to affect you by the end of the month.
ADVERTISEMENTREMOVE AD

But, What Are Items That Are Not Taxed Under GST?

Milk, cereal, meat and other daily items have been exempted from GST – so eat a scrumptious breakfast (because you can).

Here are other things that are exempted: pilgrimages like the Haj, metro travel, and healthcare. So plan your month accordingly!

(This admission season, The Quint got experts from CollegeDekho.com on board to answer all your college-related queries. Send us your questions at eduqueries@thequint.com)

(At The Quint, we question everything. Play an active role in shaping our journalism by becoming a member today.)

Published: 
Speaking truth to power requires allies like you.
Become a Member
Read More
×
×