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Rohan Saha
Founder - Burn Inves... • 23d
India’s GST Rate Cut - What It Means for You From this September 22 the government is making some big changes in GST instead of too many tax slabs now there will mostly be two rates 5%, 18% and for luxury stuff a new 40% rate for common people this means things we use daily like soap, shampoo, toothpaste, hair oil and even some packed food will now be taxed at just 5% so they should get cheaper. Health and life insurance will not have GST at all which is a direct saving. Items like small cars TVs bikes and ACs will also move to 18% from 28% which should cut prices a bit but luxury cars tobacco and fizzy drinks will get costlier under the 40% rate the idea is that this step will bring down inflation by around 1% percent and also push up demand in the festive season though the government may lose about 48000 crore in revenue.
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