GST 2.0 New Rules Explained ! скачать в хорошем качестве

GST 2.0 New Rules Explained !

India is bringing a new GST system called GST 2.0 from 22nd September. Earlier there were four slabs of 5%, 12%, 18% and 28%. Now the system has been simplified to just two main slabs of 5% and 18%. Essentials will have 0% tax and luxury or sin goods will have a new 40% slab. This means daily items like shampoo, toothpaste, soaps, hair oil, namkeen, pasta and chocolates will now be cheaper at 5%. Services like salon, gym and yoga will also cost less. On the other hand, aerated drinks, energy drinks, premium bikes above 350cc, luxury cars, yachts and private jets will now come under the 40% slab. The biggest relief is that life and health insurance policies are completely tax free and many life-saving medicines are also exempted. The government expects a revenue impact of ₹48,000 crore, but common consumers will save money on daily essentials.