Can anyone list out products prices before and after GST in India? I am interested for Home products and Two wheeler. I am getting information from google search but not exact list.
I hope some one here may have better knowledge for that.
Can anyone list out products prices before and after GST in India? I am interested for Home products and Two wheeler. I am getting information from google search but not exact list.
I hope some one here may have better knowledge for that.
The whole list I think is yet to come. But overall prices liKe pulses and vegetables will drastically come down. GST is really a great thing.
You too can Google search and find out, the whole list. I could not do because of bad weather. Google is not opening. I am posting these items which I heard from a local News Channel.
Santosh Kumar Singh wrote:As per my point of view Home product will be costly from 1st July 17. I seen lot of people buy fridge ,AC and washing machine this time.
It is impossible to get a list of all items , however you can go through the following links
And
No. Although rate of GST is same throughout the country, value of product cannot be same and consequently the GST. For example, a product may be costing Rs. 100/- in Delhi, but Rs. 120/- in Kolkata. The rate of GST is 28%. Then th GST will be Rs. 28/- in Delhi but 33/-m in Kolkata. There are many factors influencing price. So price cannot be predicted.. We can say the rate of GST but not the price.
rambabu wrote:@ Usha
No I did not see the list. Because there was problem in my I pad. What I said was, heard from a localNews Channel.
Inspite of the so called problem with your iPad you seem to be doing fine here ... usual lame excuse ! Unless you are sure please don't give wrong information ..and don't blame the local channels because I doubt they would give out such fanciful and wrong information. It WD corrode their credibility
The GST will not affect prices everywhere the same way. Now there is same indirect ax everywhere. But as on today, there is ot of tax variance in different states. The local sale Tax/ VAT differs from state to state. So, if the GST is less than central excise+ GST in a state, the price should come down. On the other hand, there is possibility of GST being more than the current central excise plus state VAT. in some state. In that case, GST should push up the price. As I wrote in a previous post, tax is not the only factor affecting price. The relative scarcity, demand/ supply position make difference. Moreover, electricity and petrol/ diesel are outside GST.. The inclusion of cost of petroleum and electricity in overall cost make the task of forecasting price more difficult.
Also, the tax benefit may not be fully passed by trader to consumer.. No doubt, anti profiteering clause has been inserted in GST law to ensure that the benefit of tax reduction goes to ultimate consumer. But we don't know how effective the anti profiteering clause will be in practice.
vijay wrote:Gulshanji, could you give a working example of how an invoice would look taking GST and local taxes into account. Thank you.
An invoice should show CGST and SGST separately. If rate of GST is 28%, both CGST (central GST) and SGST (state GST) will e 14% each. In case of inter state supply, the rate will be 28% IGST (Integrated GST) containing element of SGST. In case of inter state supply, the state in which consumption takes place gets the tax.
Presently, invoices show central excise duty and state VAT when a manufacturer issues invoice. Now such invoice will show instead CGST and SGST. Secondly, presently, central excise duty is added to value for levy of state VAT. But now CGST and SGST will be on same value.
I am giving here link for specimen of invoice under GST regime.
https://www.aces.gov.in/Documents/draft-formats-under-invoice-rules.pdf
http://www.profitbooks.net/gst-invoice/
@santoshkumarsingh