PM Modi Independence Day Special Gift: On August 15, Prime Minister Narendra Modi has announced a special gift to the general public on Diwali. According to him, the government is going to do GST reforms to provide relief to the middle class in tax.
PM modi diwali gift: On the occasion of 79th Independence Day, Prime Minister Narendra Modi hoisted the tricolor for the 12th consecutive time. During this, he asked the Red Fort of Delhi to bring Diwali surprise to the people and asked to bring the GST Reform Scheme. He said- This Diwali is going to get a big gift to all of you. It has been 8 years since GST has been implemented and now we are going to review it. We are bringing Next Generation GST Reforms, in which tax will be reduced for common people.
What is PM Modi’s Diwali surprise?
PM Modi said during his speech- We are going to improve GST, due to which tax will be reduced for ordinary people. This will make many things used in daily life cheap, which will directly benefit the general public.
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How will the general public benefit?
According to reports, the government is preparing to provide relief by cutting Middle Class and Lower Income Group in GST. It is believed that before Diwali, the government can either completely eliminate the slab of 12 percent GST or shift the goods within the 12% tax to 5% slab. The general public will directly benefit from this.
Right now these 30 items seem 12% GST
Right now more than 30 things that are charged 12 percent GST are charged, tooth powder, hair oil, sanitary napkins, soap, toothpaste, sewing machine, umbrella, water filter and purifier, pressure cooker, aluminum and steel utensils, aluminum and steel utensils, electrical iron, water hero, Valter heater, Valter, Valor, Valor, Valor Carts, public transport vehicles, readymade clothes, vaccines, shoes, diagnostic kits for HIV-Hepatitis-TB, some Ayurvedic and Unani medicines, books, Geometry Boxes, Maps and Globes, Drawing and Coloring Books, Glassed Tiles, Glazed Tiles, Redi-Mixing Buildings, Pre-Freeding Buildings, Agricultural equipment, packed foods and solar water heaters are included. If these items are brought into 5% GST slab, then people will get a lot of relief.
How GST collection increased from year to year
GST started from July 1, 2017. Since then, its annual collection has been seen continuously.
FY |
Total GST collection (for lakh crore rupees) |
Average monthly collection (for crores of rupees) |
| 2017-18 | ₹ 7.19 Lakhs (July-March) | ₹ 89,875 crore |
| 2018-19 | ₹ 11.77 lakh crore | ₹ 98,083 Crore |
| 2019-20 | ₹ 12.22 lakh crore | ₹ 1.02 lakh crore |
| 2020-21 | ₹ 11.36 lakh crore | ₹ 94,667 crore (Effect of Kovid) |
| 2021-22 | ₹ 14.83 lakh crore | ₹ 1.24 lakh crore |
| 2022-23 | ₹ 18.10 Lakhs Crore | ₹ 1.51 lakh crore |
| 2023-24 | ₹ 19.80 lakh crores | ₹ 1.65 lakh crore |
| 2024-25 | ₹ 22,08,861 crore | ₹ 1.84 lakh crore |
What is GST?
GST i.e. Goods and Services Tax is a kind of indirect tax, which was implemented by replacing many types of indirect tax like VAT (Value Added Tax), Service Tax, Purchase Tax, Excise Duty. GST is divided into four parts. This includes CGST, SGST, IGST and Cess. CGST is collected by the central government, while the state governments are collected by SGST. At the same time, IGST applies to interstate transactions and imports, which is divided between the central and state governments. Apart from this, cess is an additional fee charged on products like luxury items and tobacco to raise funds for a particular purpose.
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