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GST Impact: Sports And Fitness Equipment To Get Expensive
The game-changer Goods and Services Tax (GST) is all set to kick in from midnight on Friday. Hours before it rolls out, NDTV spoke exclusively to Raman Sood, the Managing Director of Grand Slam Fitness, to know how GST will impact sports and fitness equipment. "The yoga mats which used to cost around Rs 950 will get expensive by Rs 100. There will be a 28 per cent tax on fitness equipment instead of the present rate of 12 per cent," said Sood. To buy sports equipment, customers will now have to pay 12 per cent tax instead of the current 5 per cent. For example, a cricket bat which earlier cost around Rs 1300, will now be available for Rs 1500 (12 per cent tax).
