NEW DELHI: From January 2022 there will be certain changes implemented in the rates of GST (Goods and Service Tax) of various services and commodities as announced by CBDT (Central Board of Taxes).
The changes with increase and decrease in GST rates will be applicable to items such as textiles, footwear, apparel, cab rides and cancer drugs.
The following major changes have been notified by CBDT (Central Board of Taxes) earlier on 18 November 2021. The new rules will be implemented from 1st January 2022.
With the beginning of New Year 2022, new GST rates will be set in essential commodities and on various consumer goods. There are items that will be available at costlier rates along with commodities at lower rates from the first day of the New Year 2022.
The decrease in the rates of GST in cab rides through Ola and Uber is a big relief for people as the bookings will be now cheaper with GST rates reduced to 5 percent. Other reductions in GST rates will be applicable in cancer drugs, biodiesels and fortified rice. These commodities will now charge GST rates of 5percent which was earlier 18 percent which seems to be a great positive change in GST rules.
The government has decided for the hike in the rates of GST from 5 percent to 12 percent on various finished goods such as footwear items, apparel and textiles products. The cloth items, accessories and other textiles including fabric, pile, blankets, synthetic yarn and tents will be now costlier as the GST is hiked to 12% which was earlier 5 percent. The buying of shoes will also get expensive with the cost of Rupees 1000 from the beginning of this year.
Ordering food online through Zomato and Swiggy will now get costlier as the GST rates will be increased in food delivery services or e-commerce operators from January 2022. This step will bring the unregistered restaurants under the tax slab as it is done to avoid revenue leakage by restaurants that are not registered.
Also read: New Year To Be Expensive For Commoners, Here's a List Of Services And Items To Get Costlier in 2022
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