Price of shoes will increase after increase in GST
New Delhi: Be prepared to spend more in many matters in the new year.
From January 1, if you have exhausted your limit of free ATM transactions for a month, each subsequent transaction will cost you Rs 21. A bank customer is entitled to five free transactions at ‘Own Bank’ ATM and three at ‘Other Bank’. ATM in a month
Also, app cab users will now have to pay more for their rides, due to 5% GST the services will attract in the new year.
Buying a new pair of shoes will also pinch your pocket even more – GST on footwear has been increased from the current 5% to 12% from the current 5%.
However, the decision to increase the GST on textiles has been put on hold for the time being.
Those who fail to file income tax returns on time will get some relief. The fine has been reduced to Rs 5,000. That amount can be forgiven even if the income is less than the taxable limit.
There has been a change in the way GST is collected for food delivery services – although this will not affect the customers in any way.
The GST amount collected from the customers will be deposited directly into the exchequer by the food delivery platform instead of the restaurant.
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