GST: What may become dearer and cheaper

Zee Media Bureau

New Delhi: In the biggest tax reform since Independence, the national sales tax or GST Bill was today approved by the Rajya Sabha to replace a raft of different state and local taxes with a single unified value added tax system to turn the country into world's biggest single market.

The 66-year-old Constitution, which gives power to Centre to levy taxes like excise, and empowers states to collect retail sales taxes, was amended though the 122nd Constitution Amendment Bill.

Here is the list of items that are likely to get cheaper and dearer.

Following items may get cheaper

Price of SUVs may fall

Car batteries prices

Paint, cement prices

Movie ticket prices as entertainment tax will come down

Electronics items like fans, lighting, water heaters, air coolers

Real estate sector - with expected reduction in its tax burden

Mobile phones, Laptops

FMCG

Following items may get dearer

Hotels and restaurants

Cigarette prices because tobacco tax will be higher than current one

Mobile phone calls

Internet, mobile data rates

Textile and branded jewellery items

Airline, train tickets

Life insurance, health insurance and motor insurance