GST Rate – Friends, as soon as the new year starts, the prices of these things will increase, so let’s know which things will be increased. In India, from the beginning of next year i.e. from January 2022, the burden on everyone’s pocket will Grow. From the next month i.e.
January 1, 2022, the common man will have to face increasing taxes on many things. Let us tell you that the new year is coming for you, but inflation can be a bit troublesome for you. From buying clothes and footwear to ordering food online, it is going to be quite expensive.
GST Rate will increase
Actually, from January 1, the GST rate on readymade garments will increase from 5% to 12%. This will increase the prices of readymade garments. Textile traders say that the increase in GST will have a bad effect on retail. Traders associated with readymade businesses are opposing the increase in GST.
However, the government is in no mood to back down. In such a situation, consumers will have to pay more for buying readymade clothes from the new year. The new changes in this tax slab will be effective from January 1, 2022.
People unhappy with the increase in GST rate
Common people are not happy with the increase in GST rate. People say that due to the increase in GST, the cost of clothes will increase a lot, due to which the common man will face a lot of trouble. Traders are already suffering in the Corona period. No work in the market, due to the increase in GST, traders will be even more worried.
The tax slab will change like this
Significantly, till now footwear up to Rs 1000 attracts 5% GST, but soles, adhesives, paint, etc attract an 18% tax, which imposes a reverse tax structure. Also, there is a 12 percent tax on leather. This requires input tax credit and refund to the government. In the case of footwear, the government has to pay about Rs 2,000 crore annually. Actually, in June last year, there was to be a change in the tariff structure on shoes, clothes, and fertilizers, but it was postponed due to the Corona epidemic.
online food will be expensive
Apart from clothes and shoes, if you like to order food online then your pocket will be heavy. Because from January 1, companies will also have to pay tax on food orders from the online food delivery app Zomato app and Swiggy app.