GST rollout: Currently, a tax of 22% including excise duty and other taxes are levied on products such as toothpaste, hair oil and soap but after GST a tax of 18% will be imposed.
The GST rollout on midnight of June 30 is considered as the biggest economic reform since India’s Independence. Before the GST launch, Prime Minister Narendra Modi had said that it will help in bringing transparency while The Bharatiya Janata Party chief Amit Shah today said the new tax regime will accelerate country’s economic growth and will end the inspector raj. From the college going teenager to housewives, GST is going to affect the lives of almost everyone in the country. Here’s how GST rollout will affect the lives of women in India:
Kitchen: There will be a mixed impact on the items used in the kitchen. The government has kept basic food products like fruits, vegetables, wheat, rice, break, lassi, salt, pulses and food grains out of GST. Apart from this, daily products like milk, curd, cottage and eggs have also been exempted. The good news, however, is that chicken will get cheaper. Meanwhile, branded items will be comparatively expensive as 5% tax will be levied on them.
Makeup: Currently, a tax of 22% including excise duty and other taxes are levied on products such as toothpaste, hair oil and soap but after GST a tax of 18% will be imposed. Skin care products and shampoo have been put in 28% tax category while Vermilion, Bindi and mascara have been left out. As far as sanitation is considered, a tax of 12% will be levied despite the demand of making it tax-free.
Here’s how GST will work:
Clothes and Footwear: Getting ready for parties will be expensive as 12% tax will be imposed on clothes priced above Rs 1,000. The cost of readymade clothes will be increased by 2 to 3 per cent. However, clothes priced below Rs 1000 have been placed in 5% tax category. Coming to footwears, 18% tax will be levied on footwears priced above Rs 500.
Online Shopping: GST can be a shocker if you are a fan of online window shopping. The discounts offered by online retailers are likely to reduce after the introduction of GST. Using credit card will also get expensive as service tax under GST has been increased from 15 per cent to 18 per cent.