How GST will impact your household budget?

Goods and Services Tax (GST) is all set to transform India's tax regime. Ahead of its launch on July 1, India Today's Devina Gupta is out with her shopping basket to bring to you how the GST will impact your household budget.

Priyajit Ghosh, indirect tax partner, KPMG India, joins Devina to tell you if your grocery bill will shoot up and what gets expensive in your GST basket.

GST is a tax levied when a consumer buys a good or service. The current tax regime is riddled with indirect taxes which the GST aims to subsume with a single comprehensive tax, bringing it all under a single umbrella. The bill aims to eliminate the cascading effect of taxes on production and distribution prices on goods and services.