GST Rates in 2022 - It gives you complete details with charts and tables about GST rates slabs for next five years 2021-2025.

Property Tax (GST) has been the single largest tax change ever made by the Narendra Modi government. GST was successfully implemented on July 1, 2017, and is now one of the most important indirect taxes in the country. Many presentations have been made to make GST arrangements easier, especially for tax slabs. In a recent development, the three Medium-Tax Laws introduced on 28 December 2018 by the Central Board of Indirect Taxes & Taxes (CBIC), indicated that tax rates would be adjusted. This will lead to a gradual increase in the ongoing indirect tax burden. The Government has previously announced the revisions, which will take effect from 1 January 2022. Here is a quick overview of changes in the price of various goods and services:

India plans to tax online aggregators such as Zomato and Swiggy in the upcoming General Budget. The Department of Revenue has proposed that services provided by online restaurant aggregators, or any similar platforms, be included in the list of taxable services under Section 65(105)(zzgh) of the CGST Act which is currently being revised.

Today Here are the key changes in GST that’ll come into effect from January 1:

 GST rate changes to correct the inverted tax structure:

Medium Tax Notice (Average) No. 14/2021 dated 18 November 2021 announced that the GST level for HSN coded fabrics 51, 52, 53, 54, 55, 56, 58, 60, 63 and 65 was increased from 5% to 12% %; and shoes with HSN Code 64 worth or less than Rs.1,000 per pair have been increased from 5% to 12%.

Prices of garments, textiles and shoes to be hiked

The GST rates have been revised to 12 per cent in case of all footwear and textile products, with the exception of cotton, denim and wool, while 12 per cent tax rate has been levied on sanitary pads, incontinence pad and other sanitary napkins. Under the GST regime which was implemented at midnight on July 1 this year, there are four tax slabs - 5, 12, 18 and 28 per cent for businesses.

e-Commerce operators to pay GST under Section 9(5) for passenger transport and restaurant services

As per the Central Tax (Rate) notification no. 16/2021 dated 18th November 2021, e-Commerce operators will become liable to pay GST under Section 9(5) for the cab services, carrier services, etc provided for transportation of passengers. This is considered as a big boost for tourism and economy of the country since Kolkata becomes master in terms of big shopping destinations. E-commerce will further give a push to government move towards Digital India.

Passenger transport services provided by auto-rickshaw or taxi drivers through offline/manual mode would continue to be exempt from GST, according to the latest draft GST law. However, such services when provided through any online transport aggregator such as Ola and Uber would become taxable effective January 1, 2022, at a 5 per cent rate.

Food delivery platforms to come under GST

 GST on restaurant services supplied through online food delivery platforms such as Swiggy and Zomato would be applicable from January 1, replacing VAT charged by restaurants on food items. The new rates for GST itself would start at 5 per cent and go up to 28 per cent, and attract cess over and above that.

Goods and Service Tax has been rolled out in India from July 1, 2017. The government has decided to keep 178 goods and 50 services outside the purview of GST. And there are at least 6 rates under GST - 0%, 5%, 12%, 18%, 28% and 28%. As per GST council, all services would come under 5% tax bracket at the time of GSTR 3B filing for September month.

The government has proposed to make online food ordering and delivery platforms such as UberEats, Swiggy, Zomato and FoodPanda liable for GST dues on their purchases from restaurants. The proposal is part of a measure to include 'digital services' in the Indian GST laws. The idea is based on the market estimates that the aggregator companies have evaded more than Rs 2,000 crore as GST dues over the past two years.

Mandatory Aadhar authentication

The Finance Minister Shri Arun Jaitley in his Budget speech had stated, "GSTR-3B returns will be discontinued and as an anti-evasion measure, GSTR-1 filing will also be stopped in cases where a registered trader has not filed GSTR-3B or GSTR-2 for the preceding month. This would bring unregistered businesses into the tax net."

Goods and Services Tax (GST) Rates in India: GST tax slabs, Rates, GSTR-1, GSTR-2, GSTR-3B with effect from 1st July 2017/2018 to 2022. GST rates applicable across each slab as well as revised rates. Goods and service tax rate of 4%, 5%, 6%, 8% and 12%

New ATM withdrawal charges 21

The GST Council, headed by Finance Minister Arun Jaitley and comprising representatives from all states, decided to take into consideration the requests from some organisations to raise the existing threshold limit of Rs 20 to Rs 40 for free transactions at the ATMs. This decision is likely to come into effect from January 1, 2018. (Source: Ranjeet Mazgaonkar)

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