What’s inside:
This article shares important information about the new GST rates on food and drinks starting from September 22, 2023.
The festival of Navratri will begin on September 22, and with it, there will be some good news for your wallet. The government is changing the Goods and Services Tax (GST) rates on various food and drink items, making them more affordable.
Starting from September 22, the GST on food and beverages will drop from 18% to just 5%. This change is expected to directly impact the prices you pay for everyday items.
This new GST rate will apply to a wide range of products. While food and drinks will see a reduction, items like gutkha, tobacco, and cigarettes will still be taxed at a higher rate of 40%. Expect to see lower prices for many items starting on September 22.
Some of the foods that will become cheaper include milk, cheese, chocolate, pizza bread, and ice cream. Other items like bread, cakes, biscuits, and various sauces will also benefit from this price reduction.
As the new GST rates come into effect, shoppers can look forward to saving money on many food products. Keep an eye out for the updated prices as you shop from September 22 onwards.
Summary:
- GST on food and drinks will drop from 18% to 5% starting September 22.
- Prices for milk, cheese, chocolate, and ice cream will be lower.
- Items like gutkha and cigarettes will still have a 40% tax.
- The price change affects many everyday food products.
- Shoppers can expect to save money when buying groceries from the effective date.
