GST Anniversary 2023: Modi Government Shares List of Items That Became Cheaper After Introduction of Goods and Services Tax
The list of items and services on which tax rates were reduced following the GST implementation includes hair oil, toothpaste, soap, detergent, cosmetic, pencil, milk powder, sewing machine, TV up to 27 inches, mixer, juicer, gas stove, etc.
New Delhi, June 30: The Modi government launched the GST or Goods and Services Tax on July 1 in 2017. As the GST introduction set to complete six year on July 1, the government shared a list of items and services that became cheaper post 2017. The list of items and services on which tax rates were reduced following the GST implementation includes hair oil, toothpaste, soap, detergent, cosmetic, pencil, milk powder, sewing machine, TV up to 27 inches, mixer, juicer, gas stove, etc. Odisha CM Naveen Patnaik Writes To Finance Minister Nirmala Sitaraman, Urges To Withdraw 18% GST on Kendu Leaf.
"GST, which was introduced six years ago by subsuming 17 taxes and 13 cesses levied by the central and state governments, has not only helped in reducing tax burden on the citizens but has also proven to be the engine for driving consumption in the country," said Union Finance Minister Nirmala Sitharaman's office. GST on 'Horse-Trading'? Nirmala Sitharaman's Slip of Tongue While Speaking on GST on Horse Racing Goes Viral; Watch Video.
List of Items and Services That Became Cheaper After GST:
The law governing GST was passed in the parliament on March 29, 2017 and it was implemented across India on the 1st of July 2017. According to the government, GST has replaced many indirect taxes in India, such as the excise duty, VAT, services tax, etc on select items and services. This has simplified the tax structure and made it easier for businesses to comply with the law.
(The above story first appeared on LatestLY on Jun 30, 2023 11:55 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).