New Delhi, Sep 18
The new Goods and Services Tax (GST) rates will benefit 11 of the top 30 consumption items and a third of an average consumer’s monthly expenditure, a report said on Thursday.
These 11 items include essential milk products, discretionary products (automobiles, beauty services) and goods, seeing a surge in demand over the past few years (processed food).
"Rough calculations indicate the simple average GST rate based on these top 30 consumption items falls from 11 per cent to 9 per cent under the new regime," Crisil Ratings said in its report.
The report estimated an 8-9 per cent fall in the average prices of entry-level car segments, a 3.5 per cent fall in mid-sized Sports Utility Vehicles (SUVs) and a 6.7 per cent fall in premium SUVs.