IMO Govt is itself stoking inflation now ...
Already reeling under high inflation, the common man is likely to suffer more with the GST Council deciding to increase rates on some products and services, besides bringing more items under its ambit.
www.tribuneindia.com
She is hitting daily use stuff now. Atleast spare the daily food items..plan seems to bring more & more agriculture sector into tax net albeit indirectly..
For banks, her funda seems to be simple... Deposit u pay, withdraw.. u pay.. xfer .. u pay..keep cash.. u r making black money... Pls beg.. don,t earn...
Come July 18, 18 per cent Goods and Services Tax (GST) will be applicable on bank cheque book/loose leaf cheques and 12 per cent on maps, atlas, and globes.
Similarly, unbranded but pre-packed curd, lassi, butter milk, food items, grains etc will be brought under the GST net from the exemption list.
Writing, printing, or drawing ink will also become costlier.
The rate on machines for cleaning, sorting or grading seed, and grain pulses, machinery used in milling industry or for the working of cereals etc, 'pawan chakki', or air-based atta chakki, wet grinder goes up from five per cent to 18 per cent.
Machines for cleaning, sorting or grading eggs, fruit or other agricultural produce and its parts, milking machines and dairy machinery will have rates going up from 12 per cent to 18 per cent.