GST rate hike comes in effect from Monday: Here's what will get costlier | Business Standard News

2022-07-31 19:16:13 By : Ms. Amanda Du

Topics GST rates | GST | GST Council meet

BS Web Team  |  New Delhi  Last Updated at July 18, 2022 08:04 IST

https://mybs.in/2ax5o84

From next week, many household items, hotels, and bank services, among other things, will get costlier after the GST rates were hiked for several items in the 47th Goods and Services Tax meeting in Chandigarh last month.

While The GST council proposed to withdraw tax exemptions for a few items and rate changes for others, exemptions for many others were removed.

The increased rates for various products and services will come into effect from Monday, July 18.

Here's what will get costly from Monday:

LED lamps; ink, knives, blades, pencil sharpener, blades, spoons, forks, ladles, skimmers, skimmers, cake servers; printing, writing and drawing ink; fixture and their metal printed circuits board by 18 per cent Power-driven pumps, bicycle pumps, dairy machinery by 18 per cent Machines used for cleaning, sorting, grading seeds, and grain pulses; machines used in milling/cereals industry; air-based atta chakki and wet grinder by 18 per cent Cheques, lose or in book form by 18 per cent Solar water heater and system by 12 per cent Leather (prepared, finished, chamois and composition) by 12 per cent Printed maps and charts of all kinds by 12 per cent 12 per cent GST on hotel accommodation priced up to Rs 1,000 per day Room rent, except ICU, more than Rs 5,000 per day patient charged by a hospital taxed 5 per cent to the extent of charge of the room without ITC Works contract for roads, bridges, railways, metro, effluent treatment plant, crematorium and others by 18 per cent 18 per cent GST for work contract for historical monuments, canals, dams, pipelines, plants for water supply, educational institutions, hospitals etc supplied to central,m state goverments and local authorities and sub-contractor thereof Works contract supplied to central and state governments, union territories & local authorities for earthwork and sub-contracts thereof 12 per cent

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance. We, however, have a request. As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed. Support quality journalism and subscribe to Business Standard . Digital Editor

Copyrights © 2022 Business Standard Private Ltd. All rights reserved.

Business Standard is happy to inform you of the launch of "Business Standard Premium Services"

As a premium subscriber you get an across device unfettered access to a range of services which include:

Welcome to the premium services of Business Standard brought to you courtesy FIS. Kindly visit the Manage my subscription page to discover the benefits of this programme. Enjoy Reading! Team Business Standard