GST Impact: What Gets Cheaper And More Expensive

The Rajya Sabha on Wednesday passed the GST Constitutional Bill that seeks to transform the country into a common market with a new one-nation-one-tax regime. The government is aiming to implement GST from April 1, 2017.

Here's a look at the items that may cost you less after implementation of the new tax regime: The auto sector will benefit from the GST as the cost of entry-level cars, SUVs and two-wheelers is likely to fall. Car battery prices may also fall.

Renovation work may cost you less as the prices of paint and cement is likely to go down.

Electronic household items like fans, lighting, water heaters, air coolers etc. may also cost you less.

And these items could get costlier: Cigarette prices likely to go up as GST rate for tobacco will be higher than current levies.

For making calls, you may need to pay more as tariffs may be increased as service tax will go up.

Shopping for textile and branded jewellery may pinch your pocket more.

About The Campaign

NDTV along with Mastercard is launching a multi-platform campaign “Cashless Bano India”, to create digital awareness and educate the masses about digital payment solutions for day to day transactions.

The campaign aims to take the message of a cash free India to the country, and will charter a blue print which can help all stakeholders to become a part of the digital revolution.

We aim to reach out to people and educate them on:

1) Digital and financial literacy

2) New generation digital payment solutions

3) Enabling merchants and consumers to understand and adopt secured and safe payment Solutions

4) Ease of usage at point of sales

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In the next 3 to 4 years, India will technologically leap forward. Every person with a mobile will become a walking ATMAmitabh KantCEO, NITI Aayog
The banking industry is going to move away from the practice of a blended merchant rate, we will have a separate cost for credit and debitAri SarkerCo-President, Asia Pacific, Mastercard
Security is an ongoing process. Nothing can be absolutely secure. We need to solve problems on an everyday basisSunil MehtaMD and CEO, Punjab National Bank
There should be no transaction costs on merchants or consumers. This should be covered by government subsidiesPraveen KhandelwalGeneral Secretary, The Confederation of All India Traders
At least for the next 5 years or so, cellphones would be the best medium to reach people throughDr Arvind VirmaniPresident, Forum for Strategic Initiatives and Former Chief Economic Advisor

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Cashless Bano India

GST Impact: What Gets Cheaper And More Expensive

About The Campaign

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