GST rule change from January 1: Check what gets costlier

Various consumer goods will become costlier as a result of changes to Goods and Services Tax (GST) rates that will come into effect from January 1, 2022. The Central Board of Direct Taxes (CBIC) hiked GST rates applicable on garments, textiles and footwear, based on recommendations of the GST Council. The GST rates on all these items will increase to 12 per cent from 5 per cent from January 1. The…