BJP Nagaland Unveils Landmark Next-Gen GST Reforms

The BJP Nagaland unit has unveiled a new awareness campaign for the recently announced next-generation GST reforms. The initiative, launched on Saturday, aims to simplify the tax system and enhance transparency, ultimately easing the financial burden on the common populace.

At a press briefing held at the BJP office in Dimapur, Member Secretary of the Next Gen GST Reform, BJP Nagaland, Akum Pongen, described the reform as a 'historic milestone' resulting from a decade of visionary economic management by the Modi government. He assured that this is more than just a policy tweak; it's a comprehensive overhaul designed to ease the tax load on individuals, thereby boosting their purchasing power.

Pongen highlighted that the GST rate cuts, affecting 99% of goods in the 12% bracket and 90% in the 28% bracket, are set to enhance domestic consumption by nearly Rs 2 lakh crore. This reform, which consolidates the GST system into just two slabs, is expected to facilitate both households and businesses. In contrast to previous policies, this framework lowers the tax burden, especially for those earning below Rs 12 lakh annually, who are now exempt from income tax.

(With inputs from agencies.)