New Delhi June 8 (IANS) Daily consumer goods are likely to become cheaper by 4-5 per cent under the Goods and Services Tax (GST) system benefitting the common man the Finance Ministry said on Thursday.
Tax on food grain flour cereals and pulses will be zero after the GST comes into force on July 1. Thus these items will be available at cheaper rates to the common man a ministry statement said here.
... most of these items are expected to become cheaper by approximately 4-5 per cent compared with their existing prices it said.
However branded items with registered trade mark including milk vegetables fruit puffed rice salt animal feed organic manure fuelwood raw silk raw wool jute and hand-operated agricultural equipment will be taxed at the rate of 5 per cent under the GST.
--IANS
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Daily consumer goods to become cheaper under GST: FinMin
