The Rajya Sabha passed the constitutional amendment by two-thirds majority. The adoption of the GST regime will make manufacturing cheaper, leading to lower prices of a number of manufactured goods. On the other hand, services are likely to become costlier under the GST. The bill is likely to come into effect from April 2017.
GST will be levied on consumption rather than production.
Post GST Bill following items may become cheaper:
Auto: Prices of entry-level cars, two-wheelers, SUVs may fall
Car batteries likely to get cheaper
Paint, cement prices likely to fall
Electronics items like fans, lighting, water heaters, air coolers, etc. will get cheaper
Post GST Bill following items could become costlier:
Cigarette prices likely to go up as GST rate for tobacco will be higher than current duties
Mobile phone calls may get costlier as service tax will go up
Textile and branded jewellery may become costlier
India Constitution: Article 122nd Amemndment
Who are the loosers post GST regime?
The State Governments of India