GST RULE CHANGE FROM JANUARY 2022

 As the new year begins, certain changes in GST that come into effect from January 1, 2022, are going to affect the common man’s budget significantly. Under the new GST rates, withdrawing cash from ATMs will be costlier.

 The GST Council had decided in its previous meeting in September that textiles and footwear will fall in the 12 percent rate slab instead of the 5 percent slab, news agency PTI had reported. While the rate change for textiles has been deferred on requests by the states, footwear will now be charged at a 12 percent rate.

By Aishwarya Ashok