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GST rates: Aerated drinks, Tobacco products and SUVs to be costlier

While a sin tax of 40 percent was imposed on soft drinks, tobacco products and Pan Masala, a 65 percent tax was imposed on SUVs.


GST rates: Aerated drinks, Tobacco products and SUVs to be costlier

Zee Media Bureau

New Delhi: With the government finalising the GST rates and planning to impose 'sin tax' of 40 percent, aerated drinks, tobacco products and SUVs are set to become costlier in India.

The GST Council chaired by Finance Minister Arun Jaitley on Thursday finalised the tax slabs at 5 percent, 12 percent, 18 percent and 28 percent.

 

While the finance minister informed that mass consumption items will be taxed at 5 percent, he also said that most of the white goods will be taxed at 28 percent.

However, what was hit the most were aerated drinks, tobacco products, Pan Masala and SUVs as 'sin tax' were imposed on them.

While a sin tax of 40 percent was imposed on soft drinks, tobacco products and Pan Masala, a 65 percent tax was imposed on SUVs.

 

These means that these products on which the sin tax have been imposed will costlier once the GST is rollout early next year.

The government is hopefull that the new GST rates will be rollout on April 1, 2017.

From Zee News

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