New GST rates implemented
kitchen items and many other items become cheaper
The Sunday Mail
New Delhi. New GST rates came into effect on Monday, the first day of Navratri. Now, only two GST slabs remain: 5% and 18%. With the implementation of the new rates, many products, from kitchen items to medicines, vehicles, clothing, home purchases and construction, insurance products, and ACs and TVs, have become cheaper. Additionally, tetrapacks of milk, rotis, khakhras, personal health and life insurance products, some education-related items, and more than 33 life-saving medicines have been exempted from GST.
From Maruti Suzuki to Tata Motors, Mahindra, Hero, Bajaj, and Honda, all companies have reduced the prices of their vehicles. Now, cars are available for ₹3.50 lakh and bikes for ₹55,000. Maruti has offered discounts of up to ₹1.29 lakh on its cars. Meanwhile, Tata’s cheapest car, the Tiago, now starts at ₹4.57 lakh, offering savings of up to ₹75,000.
GST on gold and silver remains at 3%. Experts say the new two-slab GST structure will not affect these precious metals. They are classified as a separate category, already subject to a special 3% rate.
Individual life insurance and health insurance are now tax-free, with 36 medications also exempt from tax.
Individual life insurance (term, endowment, or other policies) and health insurance are now tax-free. If you pay an annual premium of ₹30,000, you can now save 18%, or ₹5,400.
36 medications related to cancer, genetic and rare diseases, and heart-related diseases have been exempted from tax. Some medications previously charged 12% GST, but will now be taxed at 5%.
If you don’t receive the benefit, complain here.
If the seller doesn’t pass on the tax reduction benefit, customers can complain. Defaulting sellers could face fines or even imprisonment. You can also complain to the National Consumer Helpline at 1800-11-4000 and 1800-1200-232.
