GST and its impacts

GST and its impacts

GST and its impacts

by July 3, 2017

GST

With the proposed goods and services tax (GST) coming into effect from July 1, 2017, it will change the cost of many things we regularly purchase. Almost all purchases will be slotted into tax slabs wherein the taxes would be 0%, 3%, 5%, 12%, 18% or 28%. The effect could be that some of our regular “buys” might become cheaper while we might have to shell out more money for some. Let us look at the impact of GST on some of the purchases.