Speaking at the IPHEX 2025 International Exhibition on Pharma and Healthcare, the Union Minister said, "Yesterday's GST reforms are a step in the direction of ensuring an Atmanirbhar Bharat, an India which is self-sufficient, self-reliant, an India whose supply chains are self-reliant, an
Union Minister of State for Finance Pankaj Chaudhary stated that the new Goods and Services Tax (GST) slabs will provide relief to the common man, small traders and micro, small and medium enterprises (MSMEs).
Vaishnaw said that the new GST tax slabs will be effective from the first day of Navaratri, and rates have been reduced for almost every item which is used in the lives of middle-class families.
Former Union Finance Minister and senior Congress leader P Chidambaram has welcomed the Centre's decision to rationalise GST rates to two slabs, stating that he appreciates the government for "realising" its mistake after eight years of its introduction on July 1, 2017.
He mentioned that the Congress party had been advocating for reforms in GST for a decade. Kharge claimed that the GST introduced under the NDA government included Tax Slabs of 0%, 5%, 12%, 18%, 28% followed by special rates of 0.25%, 1.5%, 3%, and 6%.
Uttarakhand Chief Minister Pushkar Singh Dhami welcomed the Centre's new generation GST, calling it a "historic decision" that will benefit everyone, reducing it to two slabs of 5% and 18% and applicable from September 22, 2025. ji, the Central Government's commitment is to implement a new
"The implementation of GST rate rationalisation from September 22 marks a significant milestone in India's tax reforms. By simplifying the structure, these measures will not only stimulate consumer demand but also enhance state revenue efficiency--creating a virtuous cycle of growth, stabili
In a significant simplification in the GST regime, which will benefit the common man, Finance Minister Nirmala Sitharaman on Wednesday announced consolidation of 12% and 18% slabs into a dual rate structure of 5% and 18% besides 40% for sin goods.
The two-day meeting, being held on September 3 and 4, is expected to bring significant changes to India's indirect tax structure, with discussions centred around rationalising and reducing the number of GST slabs.
He also expected that the two-slab structure would simplify tax compliance and reduce the burden. The proposed GST structure includes two slabs: 5% and 18%. This aims to streamline the current four-slab system, which provides for rates of 5%, 12%, 18%, and 28%.
The 56th meeting of the Goods and Services Tax (GST) Council is set to begin in the national capital tomorrow, spanning two days from September 3 to 4.