Delhi CM Hails GST Rate Cut: A Boost for Businesses and Households
Delhi Chief Minister Rekha Gupta lauds the GST council's decision to slash tax rates, underscoring its benefits for businesses and citizens. The rate cut, announced by Finance Minister Nirmala Sitharaman, introduces a more straightforward tax system, merging existing rates to promote stability across various sectors.
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- India
In a significant step toward economic relief, Delhi Chief Minister Rekha Gupta on Thursday commended the recent decision by the GST council to lower Goods and Services Tax rates. This decision, she stated, stands to benefit both small and large businesses, fostering greater operational stability.
Gupta expressed her gratitude towards Prime Minister Narendra Modi, describing the tax modification as a beneficial move for the common citizens. 'I want to thank the Prime Minister; he has given a great gift to the common citizens,' she remarked, highlighting the positive implications for sectors like healthcare, education, and consumer electronics.
This announcement follows Finance Minister Nirmala Sitharaman's declaration of a comprehensive GST rate overhaul. The 56th council meeting resolved to consolidate tax rates into two primary slabs, 5% and 18%, with essential items falling under the lower category and standard goods under the higher. Luxury goods, meanwhile, remain taxed at 40%, allowing for key exemptions in certain essential services.
(With inputs from agencies.)
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