This topic contains 0 replies, has 0 voices, and was last updated by  EduGorilla 1 year, 7 months ago.

  • Author
    Posts
  • #1517271 Reply
     EduGorilla 
    Keymaster
    Select Question Language :


    Direction: Read the given passage carefully and answer the questions that follow.

    Goods and services tax (GST) comes into effect from 1 July. There will be an impact on some basic expenses in the household consumption basket. The price difference will be bigger for SUVs (55% to 43%) compared to small cars (30% to 29%). While premium of term plans and non-life policies are taxed, only charges (mortality and AMC charges, etc) in other life policies attract GST. The yellow metal will become dearer as there will be 3% GST on gold and 5% on making charges. If you settle for a room that costs less than Rs 1,000, there will be no GST to pay. Then it rises progressively. Anything above Rs 5,000 will attract 28%. Hair oil prices will stay high due to 18% GST. But coconut oil being refined cooking oil, will be taxed at 5%. Taxation gap between economy and business class has increased with GST. While those travelling by local trains or in sleeper class are not affected, first-class and AC compartment travellers will pay more. Since telecom services will not get much input credit, you have to bear the burden of hiked rates. A non-AC eatery will only charge 12% GST. However, eating at a restaurant in a 5-star hotel will mean shelling out 28% in GST. Due to industry pressure, GST on garments priced below Rs 1,000 has been brought down from 12% to 5%. Reduction in GST for tickets up to Rs 100 will benefit single-screen cinemas in small towns. There are certain items that have been exempted from GST which include all unprocessed cereals like rice, wheat, etc., all unprocessed milk, vegetables, meat,fish, etc , education, healthcare (but not medicines), hotels, lodges with room rent less than Rs 1,000, kid’s colouring /drawing books etc.

    Source: https://economictimes.indiatimes.com/wealth/spend/how-gst-will-impact-your-household-budget/articleshow/59190419.cms
    What is the main idea of the passage?

    Options :-

    1. The negative impact of GST on the people.
    2. The problems faced by businessmen due to GST
    3. The changes brought about by GST.
    4. Luxury materials are made more expensive.
    5. The negative impact of GST on economy.
    Post your Training /Course Enquiry
    Are You looking institutes / coaching center for
    • IIT-JEE, NEET, CAT
    • Bank PO, SSC, Railways
    • Study Abroad
    Select your Training / Study category
Reply To: Direction: Read the given passage carefully and answer the questions that follow.Goods and services….
Your information:




GET UPTO 50%    OFF!
Verify Yourself




Log in with your credentials

or    

Forgot your details?

Create Account