The reform in the Goods and Services Tax structure, which was approved during the 56th meeting of the GST Council earlier this month, is set to come into effect from today. The current four-rate system will be replaced with a streamlined two-slab regime of 5% and 18%. A separate 40 per cent
Locals pointed out that the decision to simplify slabs into primarily 5 percent and 18 percent, while lowering or eliminating GST on several essential commodities, will ease household expenses and create wider economic opportunities.
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.
BJP MP and Confederation of All India Traders (CAIT) Secretary General, Praveen Khandelwal, lauded the reform, calling it a gift for the common people.
BJP MP K Laxman led a 'Dhanyavaad Modi Ji' padayatra in Hyderabad, calling the GST slab reduction a festive gift from PM Modi and urging traders to support its implementation.
Union Minister Ashwini Vaishnaw slammed the Opposition parties for criticising the Goods and Services Tax (GST) reforms, which come into effect on Monday.
"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
"The question that needs to be asked is who increased the GST? Who put a burden on the country by increasing it for eight years? You (PM Modi) should have apologised to the nation yesterday. Congress and the Opposition had been demanding only one slab on the basis of 'one nation, one tax'. H
Farmers in different parts of Uttar Pradesh on Monday hailed the implementation of GST reforms and said that the positive impact will be felt by all sections of farming community, specially small and medium farmers.
Crawford, who served as Director of Product Management during the company's takeover and rebranding as X, said that the platform survived because of the H-1B engineers from India and China after the takeover, as they worked long hours during critical times.
While he congratulated the people of the state in receiving the developmental projects, he further attacked the Congress for having ignored the North East region for many years.