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GST impact - Prices of bicycle and drinking water up
Posted on: 04/Jul/2017 10:12:39 AM
GST has been implemented from 1st July throughout the country. As expected, it has affected the prices of several items. In Chennai, bicycles are sold at prices ranging from Rs. 4500 to Rs. 20000.
The GST slab for bicycles is 12%. Earlier, this was only 5%. So, the prices of bicycles have gone up by 7%. - in the range of Rs. 315 to Rs. 14000 as referred above.
So far, the drinking water cans of 20-litre capacity were not taxed. After GST, they come under the GST slab of 18%.
Presently, the 20 litres drinking water cans are being sold at Rs. 30 to Rs. 40 depending on the location. Thus, the price of drinking water can is up by 18%.
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