GST Council may give a setback next month.
The meeting of the GST Council is likely to be held next month. In this meeting, the old decisions of deduction on about 25 items will be reviewed. GST rates may increase on select white goods.
The common man, troubled by the rising prices of food items, is going to get another blow. AC, Fridge, Washing Machine can be expensive from next month. Government on white goods like washing machine, fridge and AC GST ,GST) is considering increasing. Its decision will be taken by the GST Council next month (GST Council) at the meeting. According to the report, the GST on select white goods can be increased from 18 percent to 28 percent. If you plan to buy white goods, then take a quick decision. From next month, you will have to pay more for this. Currently, white goods are in the 18 per cent GST slab. Let us tell you that four years ago, the government reduced the GST rates on white goods from 28 per cent to 18 per cent.
According to the report of CNBC-Awaaz, the report of the Group of Ministers (GoM) and the meeting of the GST Council are likely to be held next month. In this meeting, the old decisions of deduction on about 25 items will be reviewed. GST rates may increase on select white goods. The GST rate on white goods may be increased from 18 percent to 28 percent.
Let us tell you that in the beginning of the year 2022, companies have increased the prices of white goods. Due to the increase in input cost, the companies had decided to increase the prices.
Government preparing to reduce GST slab
The central government is planning to reduce the existing four slabs of GST to three. There are currently four slabs of GST in India – 5 per cent, 12 per cent, 18 per cent and 28 per cent. Under this plan, the government can make a new slab of 15 percent by removing the slabs of 12 and 18 percent. With this, the slab of 5 percent can be increased to 6 or 7 percent. There is no plan for any change in the 28 per cent slab, ie this slab will remain stable at 28 per cent.