Diwali Comes Early: New GST Reforms Announced on Independence Day
Maharashtra Chief Minister Fadnavis and PM Modi mark Independence Day with significant announcements. Aiming to ease tax burdens, the government unveils next-generation GST reforms. Expected around Diwali, these changes promise relief for common citizens and a boost for MSMEs and local vendors, heralding new opportunities for growth.
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In a vibrant ceremony marking India's 79th Independence Day, Maharashtra Chief Minister Devendra Fadnavis hoisted the national flag. Alongside Chief Justice Alok Aradhe, he also participated in the Bombay High Court's celebration, exemplifying the festive spirit.
Taking to social media, Fadnavis expressed gratitude to Prime Minister Narendra Modi for continuous efforts to diminish the tax burden on ordinary citizens, referring to GST reforms as a Diwali gift. His sentiments echoed in PM Modi's nationwide address emphasizing significant changes in the Goods and Services Tax.
Speaking from the Red Fort, the Prime Minister heralded 'next-generation' reforms, aimed at reducing taxes on essential commodities. Scheduled for implementation around Diwali, these revisions promise a favourable milieu for MSMEs, enhancing growth prospects. Modi's announcement was dubbed a double Diwali gift, promising improved convenience for consumers across Maharashtra.
(With inputs from agencies.)
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