will-gst-impact-my-daily-budget-et-breaks-it-down-for-you

Rates for over 500 services and 1,200 goods were fixed, or 80-90% of items were slotted into the GST’s five broad rates in meetings on Friday and Thursday between the government and states as India races to meet the July 1 implementation deadline.

While the contours of this landmark tax reform are still being analysed, what does this mean for you and your family. For an average, middle-class household, how does this tax change its budget.
We break it up for you

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NOTES: Consumption basket for a household spending Rs 16,000 per month in Mumbai | +Rate as per Maharashtra VAT Act as on May 19, 2017 and as per Octroi applicable in Mumbai city including cess @ 12% on aerated waters falling in HSN 22 | Rates for biscuits assumed as these were not declared | 1) It is expected that the reduction in tax rates in GST regime as compared with present should be passed on to the end consumers | 2) No. of units shown above is considering an estimated monthly consumption for a family comprising 2 adults and 2 children.

source:-http://economictimes.indiatimes.com/wealth/plan/how-your-family-budget-will-change-after-gst/articleshow/58761446.cms
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