How will GST impact you? Explained in 5 simple points

Food items to be taxed at zero rate; luxury goods to get dearer

How will the goods and services tax (GST) regime, which is a whisker away from becoming a reality with the Lok Sabha on Monday clearing the four GST Bills, impact you? 

While all eyes are now on the subordinate rules, which will be taken up by the GST Council on March 31 and the specific tax rates, which will be recommended by a committee of officers next month for the new indirect tax system to be rolled out from July 1 as slated, the impact of the regime on certain sectors and areas, and the resultant impact on consumers, has