The GST bill has been all over the news since the past few weeks. Some products are giving people a great relief, while others made them stalk up their homes with products that will be expensive soon. Despite being the talk of the hour, people are still not sure about how it is going to affect them while making big financial decisions.
GST as described by PM Narendra Modi, the goods and service tax has simplified the complex tax structure in India. The multitude of indirect taxes have been reduced to four tax rate slabs, i.e, 5%, 12%, 18% and 28%. This simplification of tax regime has impacted different sectors differently, real estate being the most affected sector. People are made to believe that the GST will be on the pocket, but in reality the prices are going to got upsince the sale is usually from the middle and luxury segment.