The Union government has concluded its GST Council meeting today, on June 29 in Chandigarh. The Finance Ministry stated that the taxes on some household goods and services including kitchenware will be hiked to 18%. The current rate is 12%. The decision will come into effect on June 18, 2022.
Kitchen utensils led lights, farm machinery, and solar water systems along with services like work contracts for roads, irrigation projects, hospitals, and educational institutions will attract an 18% tax, according to the ministry. "The Goods and Services Tax Council decided to rationalize tax rates on certain goods and services to remove an inverted duty structure," Finance Minister Nirmala Sitharaman commented.
Amid inflation rate gain, the decision has been taken by the government. Citizens are concerned about their further rise in household expenses. Already the crude oil prices are rising, the inflation rate is not expected to fall any time soon. so, this decision will affect the common Indians more.