People of the country will get great relief due to reduction in GST rates: BJP -LP Arun Singh

Bhubaneswar, September 15 (IANS). Bharatiya Janata Party (BJP) LP Arun Singh appreciated the central government for heavy cuts in the rates of taxes on goods and services (GST). He said that the people of the country would get great relief from this cut. He described it as an important step with the aim of alleviating the ordinary man. BJP MP Arun Singh said during a media interaction that the Union Ministry of the Union led by Premier Narendra Modi drastically reduced the rates of taxes on goods and services (GST). These revised rates will apply from September 22 and are expected to benefit a comprehensive class of society, including farmers, students, small businesses and self -help groups. Arun Singh addressed GST at the press conference as the largest tax improvement in the world, which integrated 28 different tax on the state level when it was implemented in 2017. He said the indirect tax collection during the UPA government was Rs 5 Lakh Crore, while the revenue collection increased to Rs 22 Lakh Crore due to the implementation of GST. He said that this increased income is now used in welfare schemes and initiatives for the underprivileged. The BJP MP said that the revised GST tariffs will lower the prices of essential commodities, which will increase the purchase power of consumers and create new jobs. He said that many articles that use daily will become quite cheap. For example, detergent, which was taxed at 30 percent during the UPA rule and later it was reduced under GST to 18 percent, now a minimum 5 percent GST is charged. The tax rate on handmade sculptures manufactured in Odisha will be reduced from 12 percent to 5 percent, while the most important construction material will now be taxed at 10 percent instead of the earlier 20 percent. Televisions will also become more economical as the GST rate drops from 28 percent to 18 percent. Similarly, tax on shoes and slippers were reduced from 18 percent to 5 percent. The clothes that had 12 percent tax earlier will now be in a 5 percent plate. He further said that these deductions will not only reduce the financial burden on homes, but also support the micro, small and medium enterprise area (MSME). This step is expected to have a positive impact on rural women as it will make raw materials and essential merchandise more economical. Arun Singh, who describes it as a ‘public -oriented reform’, said that the cut in GST shows the government’s commitment to inclusive economic development and the attention of improving the daily lives of citizens. -Ians ash/ share these story tags