Question

you are expected to pay taxes on steel, matches, clocks,cloth, iron;a tax increases on which of these would affect the prices of other commodities the most and why?

Answer 1

The GST council 25th meeting recently held at Vigyan Bhawan, New Delhi stated that the tax rates 40 items in handicrafts will be decided in coming days. Goods and services tax is continuously upgraded by the GST council for better results for the proper implementation. In the latest 25th GST council meeting, several important decisions were taken by the panel and GoM to resolve immediate problems of the business community.

Revised GST Tax Slabs in India for 2017-18 by GST Council 23rd Meeting

Rates Commodity/Services
0% Milk, Butter Milk, Curd, Cereals, Natural Honey, Flour, Besan, Puffed rice, Papad, Bread, Prasad, Salt, Bindi. Sindoor, Contraceptives, Fresh Fruits and Vegetables, Firewood, Bangles (non-precious metals), Agricultural Implements, Stamps, Judicial Papers, Printed Books, Newspapers, Bangles, Handloom, Human Blood, Guar meal, Hop cone (other than grounded, powdered or in pellet form), Certain dried vegetables such as sweet potatoes, maniac, Unworked coconut shell, Khandsari sugar, etc.
5% Namkeen/Bhujiya, Coffee, Tea, Kerosene, Coal, Cream, Skimmed Milk Powder, Branded Paneer, Frozen Vegetables, Processed Spices, Pizza Bread, Rusk, Sabudana, Medicines, Stent, Lifeboats, Soyabean, Groundnut, Sunflower Seeds, Vegetable Fats & Oils, Beet Sugar, Cane Sugar, Cocoa Beans, Shells, Paste, Tar, Peat, Lignite, Lpg For Domestic Consumption By Ioc, Hpcl, Bpcl, Nuclear Fuel, Nuclear Grade Sodium, Bakery Mixes, Doughs, Pizza Bread, Vermicelli, All Ores And Concentrates, Heavy Water and Other Nuclear Fuels, Compressed Air, Animal or Human Blood Vaccines, Iron/ Steel/ Ferrous Alloy – Kerosene Burners and Stoves, Iron/ Steel/ Ferrous Alloy – Table or Kitchen or Other Household Articles, Table or Kitchen or Other Household Articles of Copper, Copper Utensils, Solar Water Heater, Diagnostic Kits for Detection of All Types of Hepatitis, Newsprint, Handmade Safety Matches, Geometry Boxes, Hand Pumps, Renewable Energy Devices, Boats, Fishing Vehicles, Coronary Stents, Artificial Kidneys, Broomsticks, Jhadoo, Steel Utensils, Curtains, Toilet Linen, Blankets and Travelling Rugs, Bed Linen, Kitchen Linen, Terry Toweling, Terry Fabrics, Napkins, Mosquito Nets, Sacks and Bags, Man-made Apparel, Life Jackets (Highlighted Goods Under INR 1000), Job work on textile, Footwear under INR 500, Cotton and Natural Fibres, Khadi Yarn, Match Boxes, Packed Organic Fertilizer, Fertilizers, Lobhan, Mishri, Batasha, Bura, Insulin, Agarbattis, Cashew Nuts, Mango Sliced Dry, Khakra & Plain chapati/roti, Food preparations for Weaker Sections, Ayurvedic/Unani/Siddha/Homeopathy medicines(Unbranded), Plastic Waste/Parings/ Scrap, Rubber Waste/Parings/ Scrap, Hard Rubber Waste or Scrap, Paper waste or scrap, puffed rice chikki, peanut chikki, sesame chikki, revdi, tilrevdi,s c hope u understand plz mark as brainliest

Answer 2

${\huge{\boxed{\mathbf{\orange {♡ANSWER♡}}}}}$.

$\green\longmapsto\:$ The tax increase on iron among the above would affect the prices of other commodities the most. The reason behind this is iron is one of the most important raw material.