UP International Trade Show: GST rates are likely to get more relief once again. Prime Minister Narendra Modi has indicated this. The biggest change in the GST system, which started eight years ago, was recently made.
UP International Trade Show: The Central Government recently cut GST prices by giving great relief to the people. The new GST rates have come into effect from 22 September. After this relief, Prime Minister Narendra Modi has given another good news. Prime Minister Modi said in the inaugural session of the UP International Trade Show in Noida that as the country’s economy strengthens, tax burden will be reduced. He also indicated further cuts in GST rates.
PM Modi inaugurated trade show in Greater Noida
He said that the biggest change was made recently in the GST system which started eight years ago. The GST Council reduced tax on around 400 items, which came into force on the first day of Navratri on 22 September. Modi said that these changes will give new strength to India’s economic development story. Inaugurating the trade show in Greater Noida, Modi said that the country is celebrating GST festival today, but reforms will not end here. In 2017, financial strength was brought by bringing GST, and this year also it is being reduced to tax burden on people. As the country gets stronger, GST will change more and people will get more relief.
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“GST reforms will continue continuously”
Prime Minister Narendra Modi said that if someone used to buy one lakh rupees in 2014, then he was taxed at about 25 thousand rupees. Now the same tax has come down to only 5-6 thousand rupees. PM Modi said that the government before 2014 was lying to hide its failures. He further said that the government has increased the income and savings of the people and they will not stop here. As the country’s economy strengthens, tax will be further reduced. GST reforms will continue continuously.
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Emphasis on India’s self -sufficiency
The Prime Minister also emphasized India’s self -sufficiency. He said that a country like India should not depend on anyone. Now India will not depend on others for its development. Modi said that India is preparing a strong foundation for the coming decade through its self -sufficiency. If the country depends on others, then there will be agreement in development. He said that the world is facing uncertainties and disruptions, but India is constantly making strong and attractive development.