Bank, hospital, hotel services to be costlier from today, July 18 --Here is why

In a bid to boost the government’s revenue, the council has decided to impose higher Goods and Services Tax (GST) on a host of household items and other services.

Bank, hospital, hotel services to be costlier from today, July 18 --Here is why

New Delhi: Common man will be burdened with more GST from today, July 18, following the approval of Goods and Services Tax (GST) Council on imposing GST on new items and increasing the tax on a few items.

In a bid to boost the government’s revenue, the council has decided to impose higher GST on a host of household items and other services.

There will be a 12% GST on hotel rooms below Rs 1000. So far, a 12% GST was imposed on hotel tariffs above the threshold. 

The GST Council has also agreed to levy an 18 per cent cess on cheques, irrespective of whether they are in loose or in book form. The GST will be levied on fees charged by banks for the issue of cheques. 

There will be a 5 percent GST if rooms worth more than Rs 5,000 (non-ICU) are rented out in hospitals.

Moreover, pre-packed and labelled food items like meat, fish, curd, and paneer will now attract GST. Unpacked food items such as rice and wheat when packed will now also attract GST at 5%. Other similar items that have now come under the ambit of GST are labeled meat (except frozen), honey, dried leguminous vegetables, dried makhana, wheat and other cereals, wheat flour, jaggery, puffed rice (muri), all goods and organic manure and coir pith compost. 

Meanwhile, the GST council has decided that goods that are unpacked, unlabelled and unbranded will continue to remain exempt from GST.

Live Tv

Trending news