Mukesh Ambani
The government has recently made a big change in the Goods and Services Tax (GST). Under this, GST slab has been reduced to only two 5% and 18%. Along with this, 40% of products like tobacco, cigarettes and gutkha have been specially imposed. This new rule will be applicable from 22 September as soon as the festive season starts.
Under this new system, everyday use items like butter, ghee, cheese, snacks, toothpaste etc. will now be taxed only 5%. Earlier they had to pay 12% or 18% tax. Meanwhile, veteran businessman Mukesh Ambani has appreciated the new GST reform. Let’s know what he said…
What did Mukesh Ambani say?
Reliance Industries Chairman Mukesh Ambani has praised this GST reform. He said, ‘This is a progressive step that will not only make products affordable for consumers, but will also make it easier to do business. This step will increase consumption in the country and reduce inflation. Also, Mukesh Ambani described the GST reform ‘consumption based development’ and said that this is a positive sign for India’s economy.
Reliance Retail’s big announcement
Reliance Retail, the country’s largest retail company, has said that it will start giving full benefit of this tax deduction to the customers from the first day. The company’s Executive Director Isha Ambani said that we want to give benefits to our customers on every occasion when something is cheap, then this improvement is beneficial for both customers and businessmen.
What will be the benefit to the general public?
Reliance says that this decision will benefit everyone from farmers to customers. Small business (MSME), manufacturer, grocery store, and suppliers will increase opportunities for all. Especially when the expenditure increases in the festive season, then this change will bring relief for the common families.