According to media sources, On this Independence Day at the ramparts of Red Fort, Prime Minister Narendra Modi announced the next generation of GST reforms by Diwali. The Prime Minister’s vision of creating a more efficient and citizen-friendly economy was realised as the GST Council on 3rd September approved rates rationalisation with a focus on the common man. The Council has simplified the indirect tax system into a two-tier structure of 5 per cent and 18 per cent from a four-tier structure of 5 per cent, 12 per cent,18 per cent and 28 per cent. These reforms have reduced tax rates in many sectors, easing the lives of citizens. Today, we look at the reforms undertaken for the sports sector. Our correspondent reports that the GST reforms have been carried out with a focus on the common man and will come into effect from the 22nd of this month. A report:
The GST rate on sports goods has been reduced from 12 per cent to 5 per cent, making items like gloves, sports kits, equipment for general physical exercise and fishing gear cheaper. The Council has also announced GST cuts on toys, including tricycles, scooters, pedal cars and board games like chess, carrom and Ludo to 5 per cent from the previous 12 per cent. This reduction is expected to make sports equipment more affordable for families and students, while also lowering costs for institutions that promote sports. Union Youth Affairs and Sports Minister Mansukh Mandaviya highlighted that the new GST reforms will make sports items affordable for citizens and will also motivate them to participate actively in sports and fitness activities. He mentioned that a higher demand for sports equipment will boost the production of Indian sports goods manufacturing units.
The new tax reforms will give a strong push to India’s sporting ecosystem, ensuring affordable access to equipment and encouraging greater participation across all age groups. The move will also encourage wider participation in physical activities and strengthen country’s efforts to build a culture of fitness and healthy living.
#dailyaawaz #newswebsite #news #newsupdate #hindinews #breakingnews #headlines #headline #newsblog #hindisamachar #latestnewsinhindi
Hindi news, हिंदी न्यूज़ , Hindi Samachar, हिंदी समाचार, Latest News in Hindi, Breaking News in Hindi, ताजा ख़बरें
News & Image Source: newsonair.gov.in
