GST New Rules: If your plan is to buy new clothes and shoes, then if you do this work before January 1, 2022, then you will be in profit. Actually, the rate of GST has been increased for footwear and textile products. Earlier this rate was 5 percent, now it will be 12 percent.
New Delhi. There are going to be many major changes in the Goods and Services Tax (GST) system from January 1, 2022. These include tax liability on e-commerce service operators on services provided in the transport and restaurant sector. Apart from this, changes in the duty structure in the footwear and textile sector will also be applicable from January 1, 2022, under which all types of footwear will attract 12% GST while all textile products (except cotton) including readymade garments will attract 12% GST.
Auto rickshaw drivers will continue to get exemption on payment of transport services provided by manual mode or offline mode, but when these services are provided through an e-commerce platform, they will be taxed at the rate of 5 percent from the new year.
Ordering food online will be expensive from January 1
After the new change, it will be the responsibility of e-commerce service providers like food delivery platforms Swiggy and Zomato to collect GST in lieu of restaurant services provided by them and deposit it with the government. They will also have to issue bills in return for such services. This will not put any extra burden on the customers as the restaurants are already collecting GST revenue. The only change that has happened is that the responsibility of depositing taxes and issuing bills has now shifted to food delivery platforms.
The move was taken as the government is estimated to have suffered losses to the exchequer in the last two years due to alleged non-disclosure of information by food delivery platforms and on tax evasion by making these platforms liable to deposit GST. Will stop.
Aadhaar authentication mandatory for claiming GST refund
Some more steps will be taken in the new year to prevent tax evasion. These include making Aadhaar authentication mandatory for getting GST refunds, blocking GSTR-1 filing facility for businesses that have not paid taxes, etc.
