Everyone is waiting for the implementation of the New GST Rates after the announcement on the occasion of Independence Day. On Independence Day, Narendra Modi announced that reduce the GST charge on all daily-use goods in the coming days. On the Eve of Navaratri, on the 22nd of September, these new GST rates will be imposed on all kinds of goods categories and slab-wise.
According to the media reports, 99% daily use of goods and items will be reduced from 12% to 5% on the 22nd of September 2025. And 90% products GST will be reduced from 28% to 18%. This is a good initiative by the Modi Government. After this new GST Rate, the common man will get the max to max relief from inflation.
About 99% of goods under the 12% GST slab currently will move to 5%. The rejig will also result in 90% items under 28% tax slab coming down to 18% bracket.
New GST Rates List
The price of the Kitchen electric items rates sudden will be drop from 22nd September onwards. Under the Kitchen and automobile products company will cut the prices of their price of gadgets and bikes. The service provided by the company also cuts the price on the existing items.
Max consumption items like ghee, paneer, butter, ‘namkeen’, ketchup, jam, dry fruits, coffee and ice creams, and aspirational goods like TV, AC, washing machines will become cheaper and simpler.
Round-Up of What Gets Cheaper
In medicine, the Latest GST will be charged at 5% thereafter price of the medicine will be reduced against the latest price. And the builder will get the 18% GST on the Cement, as this was the 28% earlier. After this price of the item will benefit each citizen of India.
The government of India has informed to pharmaceutical company means a medicine manufacturing company, to change their rate tags on the medicine and make the cheap rate. The biggest beneficiary of the GST rate cut is buyers of automobiles, wherein tax rates have been slashed to 18% and 28% for small and big cars, respectively.
New GST Rates List
The New GST Rates List has been implemented for all types of goods. The latest news reveals that Automobile companies have reduced the price of their existing products.
Daily use products like grocery items like hair oil, toilet soap bars, shampoos, toothbrush, toothpaste, too, are likely to get cheaper as tax on them has been cut to 5% from 12/18% currently. These are the good steps by the government of India.
On the tobacco and other intoxication taxes, tax rates will be 40%. Related to the Items of tobacco goods. Currently, GST is levied in four slabs of five, 12, 18 and 28%.