The biggest taxation reform in India after the National Economic Policy of 1991 is about to come into effect in India. It would lead to a uniform economy culminating all the taxes on a good or service into one unit.
As we are just inches away from implementing the Goods and Services Tax bill in India, let us refresh your memories with things that will become expensive after the act is on board:
1. Telephone BillsTalking on the phone is going to cost you more when the act is implemented, may be talking about revisiting Jio days?
2. Hiring CabsGST would increase the cab fares, quite a bummer for people who rely on OLA and Uber often.
3. CigarettesCigarettes' rates have already been rising from the past few years, and it seems like GST will take it even higher.
4. Eating OutBe ready to shell out more at restaurants and cafes if you eat out often, GST would lead to an increase in the service tax.
5. Beauty ParlourWell, self-grooming is going to take a toll on our wallets even more now, time to go all natural, is it?
6. Air TravelGoing round the world is going to become dearer as well, it is being estimated that excise duty on jet fuel is going to increase leading to an increase in airfare.