Prime Minister Modi started by implementing GST 2.0, ‘GST Savings Festival’, which will provide great relief to the poor and middle class on everyday things. From the first day of Navratri, this improvement will ensure inexpensive goods and more savings.
PM modi gst reforms: Prime Minister Narendra Modi, while addressing the country on the eve of Navratri, announced the implementation of GST 2.0. He called it ‘GST Savings Festival’. Modi wants to increase daily things for the common man and middle class through GST reform and increase savings in the pockets of families. Now about 99% of things will come in 5% GST and 90% will come in 18% GST. This will not only make the necessary items cheaper, but will also create an easy environment for business and investment. Know the five major benefits…
1. The festival of savings began on the first day of Navratri
PM Modi said that from tomorrow the country will celebrate GST savings festival. With this, every family will be able to buy their favorite things and keep more savings in the pocket. The Prime Minister said that this reform is not only for the common man, but also for the economy of the entire country. In the olden times, many types of taxes and tolls put a burden on both common citizens and business. Now the new GST structure will make it simple and transparent.
2. Cheap things and more saving-boon for man
Under GST improvement, 99% of 12% GST items will now come in 5%. At the same time, about 90% of the 28% GST items will now be under the 18% GST. This will make daily purchases cheaper. Modi said that this reform will give double benefits in the pockets of families-prices will be reduced and savings will increase.
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3. Business Easy and Investment attractive
PM Modi does not consider GST 2.0 to be limited to the relief of the common man. He says that this reform will also bring an easy environment for business and attraction for investment. Equal development between states will be ensured and there will be new pace in India’s economic growth. Luxury and harmful things will be charged 40%, so that the balance remains.
4. The path of freedom from the old tax net
The Prime Minister reminded that before 2014 the country was trapped in many taxes and toll trap. Companies had to bear more costs and the common man had expensive everyday things. This cycle will end with new GST improvement. This will benefit both business and citizens.
5. India’s development saga will get a new direction
PM Modi said that trade with GST 2.0 will be simple, investment will increase and state development will become equal partners. This improvement will benefit not only economic, but also socially every class.
What will be the benefit of implementing GST 2.0?
Prime Minister Modi started GST Savings Festival by implementing GST 2.0 from Navratri. Now everyday essential things will be cheaper, savings in the pockets of families will increase and trade will be easier. The new GST structure will be simple for trade, attractive to investment and equal participation of development at the state level.