US EditionNew GST Rates Highlights: New Slabs Come Into Effect Today, Check What Gets Cheaper for You This Navratri
India's new GST reforms cut tax rates on 375 items to 5% and 18%, aiming to boost economic growth and ease business, amid opposition criticism of incomplete measures.
- Prime Minister Narendra Modi announced the implementation of next-generation GST reforms across India starting September 22, calling it a 'GST Bachat Utsav'.
- These reforms follow extensive consultations and aim to simplify the GST system introduced in 2017, achieved by uniting all states under a uniform tax structure.
- Key changes include reducing GST on medicines from 12% to 5%, exempting 36 critical life-saving drugs, lowering taxes on small cars and cement, and cutting rates on products like electronics and personal care items.
- Modi stated the reforms fulfill the dream of 'One Nation, One Tax' and will accelerate growth, while the Congress party criticized the changes for monopolizing credit and insufficiently addressing core issues.
- The reforms could boost consumption and savings, yet challenges remain as stakeholders call for deeper relief and support for small businesses and state fiscal stability.
30 Articles
30 Articles
The next-generation GST reforms have come into effect today. The combined income tax and GST exemptions will save the country over 2.5 lakh crore rupees annually. The opposition has attacked the central government over this issue.
New GST Rates Highlights: New slabs come into effect today, check what gets cheaper for you this Navratri
New GST Rates Highlights: India new GST reforms come into effect today. The measures rationalise tax slabs from earlier four into two — 5 per cent and 18 per cent, with a special 40 per cent rate for sin good. Take a look at how this impacts prices of daily items, electronics, cars, and more.
GST Reforms Will Make Medicines More Affordable, Accessible: IPA Sudarshan Jain
Get latest articles and stories on India at LatestLY. The Indian Pharmaceutical Alliance (IPA) has welcomed the launch of the Next Generation Goods and Services Tax (GST) reforms, calling it a "transformative move" that will make medicines more affordable and accessible. India News | GST Reforms Will Make Medicines More Affordable, Accessible: IPA Sudarshan Jain.
Congress Criticizes Modi's GST Reforms Amidst Promises of Economic Revival
Congress Criticizes Modi's GST Reforms Amidst Promises of Economic Revival On Sunday, the Congress party accused Prime Minister Narendra Modi of monopolizing the credit for recent amendments to the Goods and Services Tax (GST) regime. The opposition claims these reforms fail to address core issues, such as states' calls for extended compensation for lost revenues, thereby leaving persistent challenges unresolved.Congress criticized the reforms a…
A day before new GST reforms, PM Modi promotes ‘swadeshi’ goods
New Delhi: A day before reduced GST rates come into effect, Prime Minister Narendra Modi on Sunday made a strong pitch for promoting ‘swadeshi’ goods and asserted that the next generation GST reforms will accelerate India’s growth story, increase ease of doing business and attract more investors. In his address to the nation, Modi said a ‘GST bachat utsav (savings festival)’ will begin from the first day of Navratri, and coupled with the income …
Coverage Details
Bias Distribution
- 38% of the sources are Center, 37% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
