Rai Kumar Nahar, who is the Chairman of The Poona Merchant Chamber, has pointed out that the previous GST slabs mandated implementation of different kinds of rates which led to mistakes, which will be reduced by the newly brought reforms.
Prime Minister Narendra Modi on Sunday urged citizens to adopt Swadeshi and prioritise Made in India products, as the newly approved Goods and Services Tax (GST) reforms come into effect from September 22, the first day of 'Shardiya Navaratri'.
BJP MP and Confederation of All India Traders (CAIT) Secretary General, Praveen Khandelwal, lauded the reform, calling it a gift for the common people.
Union Minister Ashwini Vaishnaw slammed the Opposition parties for criticising the Goods and Services Tax (GST) reforms, which come into effect on Monday.
The latest GST reforms, rolled out on Monday, are not just a routine policy change but a move that experts say will make daily life easier on the pocket.
"During that time, we should see the situation. You used to criticise it so much, called it as Gabbar Singh Tax, whatever, leave that. The situation right now is that we implemented GST, and got second generation (reforms) too, and people are benefiting from this," he added.
Union Minister for Petroleum and Natural Gas Hardeep Singh Puri has said that India's economy has expanded from USD 2 trillion in 2014 to USD 4.3 trillion and the government is keen to make the economy stronger at a time of global uncertainty.
Goods and Services Tax (GST) reforms in the renewable energy sector is expected to yield significant benefits, particularly in cost savings, says Pralhad Joshi, Minister for New and Renewable Energy.
"This is a very good step for both companies and consumers. Now, all our products have either come under a zero per cent or a five per cent slab. The implementation has been done, and the consumer will benefit from it from today. It is a very good step to increase consumption," the Managing