GST Noose tightens, Rupee threat rises

19 Jul 2022  Read 368 Views

The government might again hurt the poor in an attempt to help them as Tuesday, 19th July 2022, marks the day "essential goods" fall under the purview of the GST regime. The tax shall apply to packages containing goods less than 25 kg or 25 litres. While this might target the retail purchases of the aforementioned goods, the monetarily underprivileged often buy in smaller quantities as bigger purchases that would not be taxed are not always feasible for them. The essential goods to be taxed anew or at an increased rate include, but are not limited to:

  • Rice
  • Curd
  • Pulses
  • Cereal
  • Wheat
  • Flour

Staying on trend with the collapse of the Indian economy, the Indian Rupee hit a record and psychological low of ₹80 against the dollar. As the national currency deteriorates, Indian companies with foreign liabilities make a beeline to manage these liabilities to mitigate the threat of currency depreciation. How this rush to soothe liabilities will affect the companies, possibly through a liquidity crunch; only time will tell.

About the Author: Deb P Samaddar | 248 Post(s)

Deb is a keen learner and eager to learn about the finance world. He is that person who would never stop talking, but my oh my, the words he uses, are not something a normal human would in a regular conversation. While the conversations are well, interesting, the write-ups are faultless. With an increased proclivity towards tech and language, he aims to capitalise on his interests as a content writer at Finology.

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