Goods and Service Tax (GST) rates were revised after the 47th meeting of the GST Council held last month, chaired by Union Finance Minister Nirmala Sitharaman. The changes effected by the revised GST rates had come into effect on Monday (18.07.2022) where there were major changes to the prices of a majority of goods and services. According to the Central Board of Indirect Taxes and Customs, single packages of food items like pulses, and cereal boxes weighing up to 25 kgs will be considered ‘pre-packaged and labeled’ with five percent GST levied on them. Similarly, there are certain goods and products that will get costlier and some that will get cheaper. In accordance with the revised GST rates, the following goods and services will get costlier:
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- Tetra packs that are used for packaging liquid beverages such as juices and dairy products will now have 18% GST levied instead of the previous 12%.