GST Reforms: A 'Bumper Gift' for Indian Citizens

BJP president J P Nadda has applauded the Goods and Services Tax (GST) reforms announced by the Council as a 'bumper gift' from Prime Minister Narendra Modi to the citizens ahead of key festivals. Referring to the reforms as a historic step, Nadda views them as a means to elevate living standards and ease of doing business for traders and small businesses.

Nadda critiqued Congress for their objections to the GST Council's decisions, accusing them of double standards. He highlighted the inability of the previous Congress-led government to implement GST due to mistrust from states, which resulted in tax evasion via VAT. The BJP government, in contrast, successfully introduced the 'one nation one tax' system in 2017, gaining consensus among state finance ministers.

Key reforms announced by the GST Council include the elimination of 28% and 12% tax slabs, narrowing to 5% and 18%. The reduction of GST on essential items to zero, alongside eliminating taxes on health and life insurance premiums, were emphasized as measures to enhance the financial and health security of citizens. Nadda credited both PM Modi's vision and Union Finance Minister Nirmala Sitharaman's leadership of the GST Council for these advancements.

(With inputs from agencies.)