GST rate cuts come into effect:Paneer, soap, shampoo, cars, ACs see price cuts under new slab; check full list in graphics

Consumers can expect lower prices from today on a wide range of products — including kitchen staples, medicines, electronics, equipment, and automobiles — as the Goods and Services Tax (GST) cut on about 375 items comes into effect. The GST Council, comprising the Centre and state ministers, approved the tax reduction from September 22, coinciding with the first day of Navaratri, bringing festive season relief to buyers. Following graphics detail which daily use items have become cheaper. Some companies have not released new rates, so their estimated MRP (Maximum Retail Price) is given. This does not include discounts offered by companies and sellers. Therefore, the price of goods available in the market may be even lower. Stores have updated prices according to GST… See the bill. Hotel bookings, gym, flight tickets, cinema tickets will also be cheaper GST on hotel room bookings, beauty and health-related services has been reduced from 18% to 5%. Meanwhile, cinema tickets up to ₹100 will have a 5% tax, which was previously 12%. Tickets costing more than ₹100 will have 18% GST. Some items will become more expensive due to GST changes A new 40% Goods and Services Tax (GST) slab has been introduced for luxury and indulgence items, including products like pan masala and tobacco. Certain cars and motorcycles will also be covered under this bracket. However, their prices will not rise, as these vehicles were earlier taxed at 28% GST plus a cess of up to 17%, amounting to 45% in total. Under the new structure, the overall tax burden has been reduced to 40%. What impact will GST have on the economy? The government claims that GST 2.0 will provide relief to the common man, make doing business easier, and boost the economy.