Amaravati: Andhra Pradesh Chief Minister N Chandrababu Naidu on Thursday welcomed the GST reforms, describing the changes as a “pro-poor and growth-oriented decision” that would benefit all sections of the society.
On Wednesday, the GST Council approved a complete overhaul of the goods and services tax regime, slashing tax on several common-use items, from hair oil to corn flakes and personal health and life insurance policies, and umpteen others.
“We welcome the GST reforms with revised slabs across daily essentials, education, healthcare, and agriculture. This pro-poor, growth-oriented decision will benefit all sections of society, from farmers to businesses,” Naidu said in a post on X.
“I congratulate Hon’ble Prime Minister Shri Narendra Modi Ji and Union Finance Minister Smt. Nirmala Sitharaman Ji on this transformative step. As announced by PM Modi Ji on Independence Day, these next-generation GST reforms mark a strategic and citizen-centric advancement of our tax framework, ensuring a better quality of life for every Indian,” said Mr Naidu.
The reforms left only two GST slabs — 5 and 18 per cent. The new structure will be implemented on September 22.
Ms Sitharaman announced the sweeping GST rate cuts after the 56th meeting of the GST Council in New Delhi.
With the majority of items coming in 5 and 18 per cent slabs and several items facing zero per cent tax, this is expected to help the common man save money. This, the government hopes, will be routed into the economy, giving it a significant boost and having a revenue implication of Rs 48,000 crore.
