GST Impact: What Gets Cheaper And More Expensive Updated: August 04, 2016 15:29 IST
The Rajya Sabha on Wednesday passed the GST Constitutional Bill that seeks to transform the country into a common market with a new one-nation-one-tax regime. The government is aiming to implement GST from April 1, 2017.
Here's a look at the items that may cost you less after implementation of the new tax regime: The auto sector will benefit from the GST as the cost of entry-level cars, SUVs and two-wheelers is likely to fall. Car battery prices may also fall.
Renovation work may cost you less as the prices of paint and cement is likely to go down.
Electronic household items like fans, lighting, water heaters, air coolers etc. may also cost you less.
And these items could get costlier: Cigarette prices likely to go up as GST rate for tobacco will be higher than current levies.
For making calls, you may need to pay more as tariffs may be increased as service tax will go up.
Shopping for textile and branded jewellery may pinch your pocket more.