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Things you need to know about GST

The country just had the biggest tax transformation in the history and that transformation is the form of goods and services tax (GST). Let’s keep aside all the debates and arguments which were going on for the right and wrong and think for some time what effect will this have on our lives? After all, at the end, it’s all about the pocket. From last so many days, there were several surveys according to which the prices of most of the items were going up after GST and leading to tension for a common man. But let us no try to understand the real impact of GST on our lives.
 
The main motive of GST is to boost the economy of the country. For some time, there may be some problems which will be faced by the people but in the end, it will have a long-term effect. Earlier there were different state and center taxes and hence there were different rates of goods and services in every state. GST has removed this confusion and created uniformity across the country. Here are some of the fields where GST has impacted our lives in a positive manner:

No Tax Items: The items which we use in our daily lives including milk, cheese, wheat, rice, cereals and eggs and curd not have any tax. Apart from that a great sigh of relief as you don’t have to pay any tax on health care and education. Other goods and services which also fall under this category are metro travel, religious travel and Haj yatra.

Fewer rate items: Air travel will become cheaper for those traveling in economy class as the tax is reduced from 6 percent to 5 percent. On the other hand, people traveling in business class will have to pay more as the tax is increased from 9 to 12 percent. For the people who love traveling, the tax on hotel rooms will be zero if the room costs less than 1000. Apart from this, cab rides will also become cheaper as the tax will decrease from 6 percent to 5 percent. Common products that we use in our daily life like hair oil, soaps and toothpaste will also become cheaper as the tax will be reduced to 18 percent from 20- 22 percent. The price of cement will come down as the tax will decrease from 12 percent to 8 or 9 percent.
There are many other things where prices will go slightly up but this is happening for a reason. The long-term benefit will surely have a positive impact on the lives of people.
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