PM Modi Declare Stage For Reduction In GST Rate On Some Items

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PM Modi Declare Stage For Reduction In GST Rate On Some Items

PM Modi Declare Stage For Reduction In GST Rate On Some Items: At the weekend, including Prime Minister Narendra Modi on an air conditioner, dishwasher, and digital camera, only 28% indicated the top slab in luxury goods, while 99% of products and services are 18% + or less bracket.

PM Modi Declare Stage For Reduction In GST Rate On Some Items

HIGHLIGHTS

  • GST  increases government revenue from revenue, an average one lakh rupees per month is government
  • PM Modi’s announcement, 99 percent of the items will look at 18 percent or less GST
  • In the top slab, now 35 items will be left instead of 226 items. Consumers can expect discounts on 25 to 30 items

Check here on How many items Prime Minister Narendra Modi Declare Stage For Reduction In GST Rate: Consumers can expect discounts on 25 to 30 items. They can also have items such as AC, dishwasher and digital camera. Thus, in the top slab of GST, only 35 items will be left instead of 226 items. Automobiles, soft drinks, cigarettes, pan masala, and tobacco products will be out of the 28% GST scope.

However, for personal use aircraft, revolver and pistol will be included in the GST’s 28% slab. Apart from this, the things which will be seen in the reduction, include Household Appliances. Besides, there will be relief on cement, tire and auto parts. Apart from this, agricultural products can also be exempt from the government, which is currently within 18% of the area.

Reason for exemption is not only political

Regardless of the exemption of GST rate, political reasons should be derived, but this is also a good collection of taxes. From GST, the government is raising revenue of Rs 1 lakh crore on an average in a month. Apart from this, the tax base has increased from 65 lakh to nearly 1.2 million.

The main reason behind the government earning is that the revenue has increased due to low tax rates. Compared to earlier than GST, these days, on average, 4% discount is available on household items and tax is available in tax.

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