Sources have stated that India's biggest tax reform since Independence, the Goods and Services Tax (GST), rolled out past midnight on Friday in the Central Hall of Parliament has ushered in a new tax regime.
It was stated that a minute after the stroke of midnight, President Pranab Mukherjee and Prime Minister Narendra Modi pressed the button to launch the new indirect tax regime on a digital screen with "GST" emblazoned on it in a golden hue.
The essential food items for which rate had been increased is as follows.
Packaged tea or coffee had 10.29%, packed chicken's GST for a pack is 9.03%,
edible oil for a litre will have 16.82% of tax, masala for a kg around 9.09%
tax is fixed. Moreover butter, cheese and ice cream will have 6.38 , 13.64 and
25% of tax are imposed per pack and for packed curd and panner around 8.7 and
19.7 percentage of tax is imposed. Moreover packaged snacks and drinks will
have increased rate of tax.