Low GST but expensive cheques! Fitness and beauty services get costlier—Here’s why gyms and salons are raising prices
Despite a GST reduction on personal grooming and fitness services from 18% to 5%, consumers are facing price hikes of 10%-20%. This increase is due to businesses now absorbing the full cost of taxes on expenses like equipment and rent, as the input tax credit (ITC) has been withdrawn.🕒 1 min read
Despite a GST reduction on personal grooming and fitness services from 18% to 5%, consumers are facing price hikes of 10%-20%. This increase is due to businesses now absorbing the full cost of taxes on expenses like equipment and rent, as the input tax credit (ITC) has been withdrawn.
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