Proposed GST Changes: What’s Cheaper And Costlier?

The GST Council’s ministerial panels have proposed tax adjustments, aiming to lower rates on health and life insurance premiums. Notably, GST on 20-litre packaged drinking water, bicycles under ₹10,000, and exercise notebooks will decrease to 5%. Conversely, GST on high-end shoes and wristwatches will rise to 28%. Health insurance premiums under ₹5 lakh may be exempt from GST.