GST Reform: A Game-Changer for India's Economy
Assam Chief Minister Himanta Biswa Sarma praised Prime Minister Narendra Modi for a major GST reform that reduces tax slabs. This overhaul, effective September 22, is expected to boost the economy by aiding small businesses and increasing consumer spending, showcasing the government's adaptable governance approach.
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In a significant development, Assam Chief Minister Himanta Biswa Sarma has publicly commended Prime Minister Narendra Modi for the transformative reform in India's Goods and Services Tax (GST) structure. The latest decision by the GST Council promises to simplify the tax regime considerably.
On Wednesday evening, the GST Council approved pivotal changes to the tax system, reducing the tax slabs to 5 percent and 18 percent, with these shifts set to take effect from September 22. The reform aims to enhance economic efficiency and ease the financial burden on businesses and consumers alike.
Sarma expressed optimism regarding the reform's potential impact on the economy, predicting increased business agility, job creation, and consumer spending. He hailed the government's adeptness at implementing and adapting GST as evidence of its innovative approach to governance.
(With inputs from agencies.)
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