In a social media post on X, the Union Minister stated that these reforms aim to improve the ease of living for citizens, adding that it will focus on creating a stable, transparent, and growth-oriented tax system that will benefit farmers, the middle class, MSMEs, and businesses.
Shrivastava said, "Under GST, the problem of inverted duty is being solved in the fertiliser sector, which will enable and encourage the domestic use of fertiliser."
In a post on X, Chidambaram said the current GST design and rates should not have been introduced in the first place, adding that the opposition had repeatedly warned against these issues for years, but their pleas were ignored.
Congratulating Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman, Amitabh Kant lauded the tax reforms for simplifying the structure and eliminating inverted duties.
Next-generation GST reforms, as announced by Prime Minister Narendra Modi from the ramparts of Red Fort on August 15, represent a strategic, principled, and citizen-centric evolution of a landmark tax framework, which will enhance the quality of life of every last citizen, the press release