GST rates revised: Prices of cars, clothes to come down

NEW DELHI: With the GST being reduced to two slabs, the prices of 391 goods will come down. This reform touches the everyday dreams of common people, including homes, clothing, and cars. GST on cement has come down from 28 percent to 18 percent, while the GST on marble and granite blocks has been reduced from 12 percent to 5 percent. This will be a huge relief to the construction sector. GST on tableware, kitchenware, toiletries, and other household items will also come down to 5%.

Interior materials for homes will also have 5% GST. The prices of paints, drawings and carpets will also come down. The GST on clothing will reduce from 12% to 5%. GST on diesel cars under 1,500 cc and petrol, CNG, and LPG cars under 1,200 cc has been reduced from 28% to 18%, a decrease of about 10%. With this, common people will get benefits ranging from Rs 60,000 to Rs 1 lakh.

The tax simplification will lead to a revenue reduction of Rs 48,000 crore, but this cannot be considered a loss. Extra money in the hands of ordinary people will be spent in the market, directly returning to the economy. It is also expected to help reduce inflation. Additionally, sectors such as handicrafts and textiles, which were affected by retaliatory measures under the Trump administration, will get some relief.

Price of lottery might increase; will be huge blow for Kerala, says Finance Minster KN Balagopal

Finance Minister K.N. Balagopal said that GST on lotteries will rise from 28% to 40%, which will impact Kerala significantly. Ticket prices and prize money may change. Kerala has requested more time to implement this, and the central government has asked for a formal letter. About 2 lakh people in Kerala depend on the lottery sector. Finance Minister K.N. Balagopal told Kerala Kaumudi that he will soon hold discussions with those working in the lottery sector, among others.

Items exempted from GST

1. Life-saving medicines, personal health insurance
2. Milk, paneer, roti, chapathi, and parotta

Items with reduced prices

1. All medicines
2. Most daily-use items
3. Shoes, clothing, and handicraft products
4. Buses, trucks, ambulances
5. TVs and monitors
6. ACs, dishwashers, fridges
7. Small cars
8. Medical, surgical, dental, and veterinary equipment
9. Toothpaste, brushes
10. Bandages, glucometers
11. Hotel accommodation services
12. Gyms, salons, yoga centers
13. Chocolates
14. Coffee, butter, ghee
15. Refrigerated meat, cornflakes