Revised Rates for GST are here..But do you actually save on taxes, should be yes but no. Read out why

With new GST rates, the finance ministry has tried their level best to express the concerns of the consumers who are feeling the pinch of high GST rates.

While the rates for the restaurant has been lowered from 18% to 5%, the hoteliers are not passing on the benefits to the consumers citing losses on credit availment.

The ultimate benefit of lowering the rates should be passed to the last leg of the consumption chain which is the consumer. If the consumer is not benefiting from lowering of the rates, the very purpose of lowered rates is in vain.

The Govt with this thought in mind had already considered Anti Profiteering Authority that will keep check on these people.

The new Anti Profiteering authority has received go ahead from the ministry for its constitution and will be in full swing in the coming few weeks. Let's fight with these benefit hoarders will be the motto for this authority.

The revised GST rate can be accessed from here.