Today, Official Twitter account of the office of Minister of Finance and Corporate Affairs, Nirmala Sitharaman twitted “Over the years, even the rate of GST has been cut down & rationalized on many common household items. GST rates have been periodically reviewed and the rates have been further brought down on many items as compared to that of the time when GST was introduced.
Also twitted “GST has also been a boon for the finances of the state govts as it has increased their tax buoyancy, which is the ratio of tax growth to GDP growth. It’s a shame that GST has been called different names over the years. However, the fact is that GST has actually brought relief to the common citizens.
On many common-use items, tax under GST has been lower compared to pre-GST tax rates:
✅Items such as tea, milk powder, sugar, edible vegetable oils, spices and footwear (priced up to Rs 500) attract taxes of 5% under GST, compared with earlier tax incidence of 6-10%.
Over the years since the time of GST introduction, there has been:
✅Reduction from 28% GST to 5% on aircraft engines, parts and accessories for carriages for ‘Divyang’, rubber waste, etc.
✅Reduction from 28% GST to 12% on tableware, kitchenware, other household articles, office and desk equipment, luggage and travel accessories, etc.”
News & Image Source: Twitter (@nsitharamanoffc)
#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
