Finance Ministry Says Daily Consumer Goods to Become Cheaper by 4-5% under GST

According to the Finance Ministry, the daily consumer goods are likely to become cheaper by about 4-5 per cent due to implementation of GST.  

This observation has been made as taxes on basic food items like cereals, pulses, flour will be zero under the GST and the common man can get it at cheaper rates.  

While other essential food items like milk, vegetables, fruit, salt, puffed rice, animal feed, organic manure, raw silk, raw wool, jute, hand-operated agriculture equipment will be taxed at the rate of 5 per cent under the GST.
 
The GST Council in May, under the new indirect tax regime, had decided the rates for most of the items in its meeting held in Srinagar. The GST Council will meet again on June 11, 2017, for deciding the tax rate on the remaining items, including the lotteries.