Sin Goods and Sin Tax

  • Recently, Finance Ministry said that two-wheelers are neither a luxury nor sin goods and so, merit a GST rate revision.
  • Two-wheelers currently attract 28% GST.
  • Last year, the country’s largest two-wheeler maker Hero MotoCorp had urged the government to consider a phase-wise reduction in GST on the segment, starting with bringing bikes up to 150 cc into the 18% slab.

Sin Goods

  • Sin goods are goods which are considered harmful to society.
  • Examples: Alcohol and Tobacco, Candies, Drugs, Soft drinks, Fast foods, Coffee, Sugar, Gambling and Pornography.

Sin Tax

  • Taxes levied by the government on sin goods are called Sin Tax.
  • These are imposed ....
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