2. Content
– How GST Changed Our Everyday
Life?
– Cheaper Morning Routines.
– Our Fashion Statement.
– To travel is to live.
– Food: One of our main
necessities.
– Entertainment & Dine Outs.
– Conclusion.
3. How GST Changed Our
Everyday Life?
– After the introduction of GST for sure our
spending habits are changed.
– It was 1 July, 2017 and the nation was
welcoming its biggest indirect tax reform.
– Yes we know taxes like Central Excise, VAT and
many more were were now abolished and it was
like a new generation of the economic life of the
country.
– And after that day there have been several
changes in the life of the common man and
mainly on the daily spending.
– But do we know how this affected our daily life?
A big question lets checkout the answers……
4. Cheaper Morning Routines
– Prices for basic consumable such as
toothpastes, razors, shaving creams and after
shave lotion have increased after the
implementation of GST that is 28% which was
26% earlier.
– But the taxes on the traditional items such as
tooth powder have reduced to 12% from the
earlier 26%
– Soaps also attract 18% tax now which was
earlier 26%.
– So we can say that the morning routines are
now a bit more cheaper than it was first i.e.
before the implementation of GST.
5. Our Fashion Statement
– Price of clothes also had impact of GST. Taxes
are lowered to 5% but only on the clothes that
cost less than Rs. 1000.
– If the cost of the clothes is greater than Rs. 1000
the taxes are the same i.e. 12%.
– The Tax on the footwear is also increased to
18% but if these are leather shoes the tax rate
is 28% as they come under luxury items.
– Tax for other leather accessories is also
increased to 28% which was 6%.
– Taxes for the personal Grooming stuff is also
increased by 2% and is now 28%.
6. Food: One of our main
necessities.
– Several Breakfast items such as corn flakes,
coffee, tea, ready to eat namkeen, condensed
milk etc. now have lower tax rate which is
5%.
– Items like fresh milk, vegetables and fruits
are carrying 0% tax rates.
– But after GST there is a price rise in Butter
and branded cereals making them slightly
more expensive and fall under slab of 12%.
– Biscuits , pastries & cakes, ice creams the GST
rate is 18%.
7. Travel is to live.
– GST has bought in some good news for UBER
and OLA customers. GST on the such rides is
decreased to 5% which was 6% before GST.
– The Tax Rates on Economy Class tickets has
reduced to 5% which was earlier 6%.
– Business class tickets, however are now taxed
at 12% from the previous rate of 9%.
– Tax on automobiles & motorcycles is
increased after the implementation of GST.
8. Educational and everyday
Stationery
– GST will not effect the education sector.
Education will have the same taxes which
were before that is nil.
– The cost of basic stationary items, such as
fountain pens, ink pens, and printed books
are also unlikely to change.
– The tax on items such as geometry boxes has
reduced to 5% from 18.5%.
9. Entertainment & Dine outs.
– The Air conditioned restaurants that serve
alcohol now charge 18% tax which was earlier
22%.
– There is lower rate of tax for eating at non air
conditioned restaurants that do not serve
alcohol.
– There is increase in tax for the Five-Star
Restraunt that is equal to 10%.
– Other entertainment options such as movies
theatres, televisions, video game consoles and
pianos are now taxed higher than before under
GST.
10. Conclusion
– After the implementation of GST there were many changes like it boosted
the ‘MAKE IN INDIA’ , eradicated the cascading effect and many more but
knowing how this all effected our daily life and how the activities which we
carry out daily from getting up from bed in the morning to going back to
bed at night are effected by the implementation of GST. And now we know
GST plays an important role in our daily life expenditure.
