How has the GST Council decided to bring such products under the purview of tax, which were till now outside it. Today, from July 18, GST has also been implemented on products like flour, pulses, curd, butter. The council has also given exemption in GST on some products and services, which will now make them cheaper.
New Delhi. Under the decision of the GST Council, from today i.e. July 18, 5 percent GST has been implemented on many products and services including flour, curd, paneer, hospital room. Now the prices of these products will also change from today.
The Central Board of Indirect Taxes and Customs (CBIC) has given some clarifications by issuing a notification a day before the implementation of the new rules of GST. The board said that although these products and services which were outside the purview of GST are now being included in it, but some rules will still keep these products out of the purview of GST. CBIC has told the customers a way to purchase these products without GST.
What is its multiplication-math
CBIC has said that pulses, flour or any grain up to 25 kg which is in single packing, will be considered as labeled product and will attract 5 percent GST. But, if the shopkeeper sells any product up to 25 kg from the manufacturer or distributor to the customer, then no GST will have to be paid on it.
This way to save money
CBIC has said that if a customer buys a single packet of products like pulses, cereals weighing more than 25 kg or 25 liters, then he will not have to pay GST. This means that there will be no GST on buying a 30 kg packet of food grains. Similarly, if a product is more than 25 kg, but it is not in a single pack, then 5% GST will have to be paid. This means that if there are three packets of 10-10 kg in a pack, then the total weight has become 30 kg, but due to different packets, GST will have to be paid on it.
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