Prime Minister Narendra Modi has announced that the new GST reform will take effect from tomorrow, September 22. Speaking on TV, he said the change will boost growth, ease trade, and bring relief to the people.
The GST structure, which earlier had four slabs of 5%, 12%, 18%, and 28%, will now be simplified into just two slabs — 5% and 18%. Nearly 99% of goods, including food, medicines, and household items, will come under the 5% category. This will lower prices of essential products and reduce the burden on consumers.
Modi said this was the “second gift” to citizens, after the recent income tax relief. He noted that families will save more and small traders will benefit. Items like TVs, two-wheelers, and cars will become more affordable.
The Prime Minister added that GST reform is a continuous process, necessary to match changing needs. He urged people to support domestic products and production, stressing that self-reliant India is the ultimate goal.
He said this reform will bring double happiness to citizens by reducing taxes and boosting the economy.