GST Rate Cuts in Kerala: A Consumer Relief Story Unfolds
In Kerala, recent GST rate cuts are gradually benefiting consumers, although implementation is uneven across different retail outlets. While some small stores maintain old prices due to existing stock, larger supermarkets and registered businesses quickly adopted the new reduced rates, highlighting a mixed response from traders.
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The recent implementation of GST rate cuts in Kerala is beginning to benefit consumers, although its reach varies across the state. Supermarkets and registered businesses have promptly adopted reduced rates, while smaller provision stores continue to sell at older prices due to pre-existing stocks.
Small traders like those in Vyapari Vyavasayi Ekopana Samithi, a key traders' body, express the need for time to adjust to the new GST policies, pointing out stock purchase at old rates as a challenge. Meanwhile, supermarkets, malls, and electronics stores, which already collect tax directly, have started offering goods at reduced prices.
With the government emphasizing that these tax reforms should reach end consumers, there are calls for improved implementation strategies. Prime Minister Modi highlighted the significance of GST reforms, associating it with national economic growth and the 'Aatmanirbhar Bharat' initiative, as the country gears up for a rise in indigenous products fostering economic prosperity.
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