The Group of Ministers (GoM) has finalized its report proposing changes to GST rates, including introducing a new 35% slab.
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Here's a list of 5 Items That May See Tax Tweaks:
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TOBACCO PRODUCTS
The GST on cigarettes, tobacco, and related items may rise to a proposed 35% from the current 28%, targeting higher revenue from demerit goods.
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AERATED BEVERAGES
Similar to tobacco, aerated drinks may also be taxed at 35%, reflecting their classification as luxury or demerit items.
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APPAREL
Tax rates for readymade garments could shift, with items under ₹1,500 taxed at 5%, ₹1,500- ₹10,000 at 18%, and above ₹10,000 at 28%.
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LUXURY SHOES AND WRISTWATCHES
Shoes priced above ₹15,000 and wristwatches above ₹25,000 might see their GST rates climb from 18% to 28%.
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BICYCLES AND NOTEBOOKS
Proposals include reducing GST on bicycles under ₹10,000 to 5% (from 12%) and on exercise notebooks to 5% (from 12%), aligning with affordability goals.