News Karnataka
Saturday, December 03 2022
Economy

Flour, pre-packed, pre-labelled food grains to attract GST

GoM on online gaming likely to recommend 28% GST
Photo Credit : IANS

New Delhi: Flour, curd and pre-packed food items are set to get costlier from Monday as the customers will have to pay 5 per cent GST on them. Exemptions have been withdrawn for pre-packed and pre-labelled food grains. Hotel accommodation up to Rs 1,000 per day will now be taxed at 12 per cent.

Tax rates have been increased from 12 per cent to 18 per cent on products such as printing, writing or drawing ink, knives with cutting blades, spoons, forks, paper knives, pencil sharpeners, and LED lamps. The 5 per cent GST will also be charged on hospital room rent above Rs 5,000 per day but ICU has been exempted. Reacting to the development, the Congress said that these rate revisions are unwelcome at a time when inflation is putting pressure on the pockets of the common person.

“The CPI inflation in May 2022 stood at 7.04 per cent, and was as high as 7.79 per cent in April 2022. These are way higher than the maximum limit of 6 per cent set by the RBI. All the products for which GST rates have been revised upwards are items that are consumed daily by the lower and middle classes,” said Congress Spokesperson Gaurav Vallabh.

The GST Council, at a two-day meeting in June had accepted recommendations for rate rationalisation made by sub-groups, resulting in tax changes to be effective from July 18. The council had decided to refer the report of the GoM on casinos, online gaming and horse racing back to the panel of ministers for further consideration. The report is expected to be ready and would be taken up by the council in its next meeting in August.

Read more:

US inflation at record high as WPI, CPI indices soar

Retail inflation eases slightly to 7.01 per cent in June

April retail inflation past RBI’s tolerance for fourth month

Share this:
MANY DROPS MAKE AN OCEAN
Support NewsKarnataka's quality independent journalism with a small contribution.

How useful was this post?

Click on a star to rate it!

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Leave a Reply

Your email address will not be published. Required fields are marked *

Visit 7Jackpots and find the best online casinos in India! Play the most popular casino games for real money!

Find the best odds at 10Cric and ipl betting 2021! Signup today and get up to a 100% deposit bonus.

To get the latest news on WhatsApp