Expensive 2022: List of things getting costlier from new year

Ground Report | New Delhi: List of things getting costlier in 2022; With the new year, there will be new Goods and Services Tax (GST) tax rates on many consumer goods and some changes in the GST regime from January 1, 2022. The tax changes will affect e-commerce websites and food delivery aggregators but will not eliminate customers using these services.

Further, reforms in the inverted duty structure in the footwear and textile sectors will be effective from Saturday, subject to 12% GST of all footwear, regardless of price, and all textile products, except cotton, which includes prefabricated garments, subject 12 % GST.

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List of things getting costlier in 2022

Food items

You'll be charged more in the new year to shop for your everyday food items, from coffee to snacks. So, it has been said that now nothing will be cheap including bread, packaged foods, beverages, etc. The marginal increase could be 5 percent which would be a high amount for the public.

clothes, shoes

The government has increased the GST rates on finished goods like apparel, footwear, and garments from 5 to 12%. These items will become more expensive from January 1, 2022.

GST on clothing items up to Rs 1,000 has been increased to 12% from the earlier 5%. In addition, the GST rate on textiles including knitted fabrics, synthetic yarns, blankets, tents as well as items like tablecloths or serviettes has also been hiked.

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A direct tax on footwear has also been increased from 5 percent to 12 percent. The Central Board of Direct Taxes (CBDT) notified the changes on November 18, 2021.

Cab & auto rides

Many automakers will increase the cost of vehicles in the new year, citing the higher cost of living. The government has decided to bring ride-hailing services under the purview of GST and a 5% levy has been imposed on such services. However, vehicles on the road without the app will continue to get the exemption. Hero MotoCorp, Kawasaki, and other brands in four-wheelers also plan to hike prices in January this year including Maruti Suzuki, Tata Motors, etc.

Food delivery apps like Swiggy and Zomato charge GST

Though the collection of tax responsibility is just being transferred from the hotel to the aggregator, there may also be a case of higher charges for the consumer. According to experts, if the restaurant is a registered entity, there may be no impact on the end consumer.

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