Hey Mums, Here's How GST Will Impact Your Budget Plan!
Dear Indian momma, your life is not going to be the same anymore. The big daddy of all taxes, the GST, is going to make a huge difference on the way we spend. To find out how, read on!
Buying packaged baby food will pinch you, formula will not
If you have been spending on packaged cereal for your little one, better set aside a bigger budget. Bottled baby food and packaged cereals which were taxed at 7% earlier will now be taxed at 18% under GST.
On the other hand, moms who formula-feed their babies can rejoice as baby milk powders come under the 5% tax bracket of the GST, which makes it cheaper than before.
Your dates with your hubby will look dreamier in a 5-star hotel now
All that convincing your spouse to take you to a 5-star comes to an end. Yummy weekend brunches at 5-star restaurants or a luxury hotels will now attract a GST of 18% per cent, which is lower than the earlier tax rate of 28%. Heading to one next weekend, eh?
If you want to ensure your bub looks swanky as you take them along for the brunch,here are some cool options for kids wear that you can shop from BabyChakra.
Getting your husband to gift you that gold necklace is going to get tougher
While GST for gold has been fixed at only 3%, making charges attract 18% tax. This means there will be an effective 3.24% increase in the price of jewellery. If this bugs you, worry not, vent out on BabyChakra community of moms to feel afloat. Join the community on BabyChakra App and find some amazing moms to connect with!
Movie night outs might be fewer in number now
The GST Council has fixed the rate on movie tickets at 28%, the highest rate slab. This won't affect moviegoers in Maharashtra, Uttar Pradesh and Jharkhand much as entertainment taxes in these states was higher than 28%.
For the others, it's good in a way. You get to spend some quality time with your family. Read together or try your hands at some fun activities.
Cab rides are now going to be fun
Ride in whichever cab you want to, as many times as you want, as tax on taxi services will go down from 6 per cent to 5 per cent...Yay!
Want to ensure a hassle-free and fun ride with your kiddo? BabyChakra brings to you some fun toys and activities you can take along to keep the bub busy so you enjoy your ride.
Moms-to-be, you can buy more lovely clothes
Apparel costing below Rs. 1000 are about to get cheaper as GST on these goods will reduce from 7% to 5%. We can see you smile already!
If you are expecting, why don’t you start shopping right here? Take a look at some stylish maternity wear options.
With time, we will get a clearer picture on how the newly introduced tax system will impact us. Till then, let's wait and watch.
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