The GST which is into effect will not have any impact on the prices of daily essentials and day to day use items. Daily use Items such as common salt and bathing soaps will not be affected price wise as they have been excluded or exempted the tax remains at the current level.Unbranded daily food staples including fresh vegetables, milk, eggs, wheat,rice and flour will also be exempted from GST along with the health and education services.
Other iems likeTea, edible oils,cooking oils, sugar, textiles and baby formula will attract only a mere 5 per cent tax.Luxury items including two wheeler motorcycles, daily use perfume sprays and shampoo, which is taxed for about 19 per cent a few amongst this will be taxed at 18 per cent or even higher.
Previously traders with a yearly turnover of above Rs 10 lakhs were paying VAT at its full rate, but they are exempted from excise now. But according to GST a trader with a maximum turnover of Rs 20-75 lakh attracts 2.5 per cent tax. Even Businesses with a yearly turnover of Rs 20 lakh will be exempted.In trut, GST will help the honest.
