GST reforms bring happiness to buyers and sellers, says CM Manik Saha

Agartala (Tripura) [India], September 25 (ANI): Tripura Chief Minister Manik Saha on Wednesday expressed satisfaction over the new GST reforms, stating that the changes have brought happiness to everyone, from buyers to sellers. He credited the reforms for a noticeable reduction in the prices of goods and said people are thankful to Prime Minister Narendra Modi for the positive impact.

Speaking after visiting Maharajganj market, the busiest and largest marketplace in Agartala, CM Saha said, “India can be the best in the world in terms of economy in the future.”

He elaborated that the new GST reforms were announced by Union Finance Minister Nirmala Sitharaman under the guidance of Prime Minister Modi and came into effect on September 22 this year.

“Today, I visited Maharajganj market, the largest in the state, to check the implementation of this new system. I spoke to both traders and buyers and learned about their reactions to the work done by the Prime Minister. It was evident that there was a happy atmosphere due to the reduction in the prices of goods. For this, people expressed their gratitude to the Prime Minister,” CM Manik Saha said.

The Chief Minister also recalled that there were many types of taxes earlier.

“When goods left the factory, tax had to be paid. There was road tax, VAT, and additional taxes when moving goods from one state to another. When all these were combined, GST was introduced — but it created a lot of commotion at the time,” he added.

He further explained that the GST system has now been simplified from five tax slabs to just two slabs, making it easier for everyone. “It has now been simplified from five slabs to two slabs. When Prime Minister Narendra Modi initiated tax reform, the opposition said that the country would be ruined and that the economy would collapse. But in the end, we have seen that the Indian economy has moved from 11th place to 4th place globally,” CM Saha said.

He highlighted the Prime Minister’s vision for a “Viksit Bharat” (developed India) by 2047 and added that by 2050 or later, India may become the best economy in the world.

Meanwhile, the GST reforms, approved during the 56th GST Council meeting earlier this month, came into effect on Monday (September 22). The previous four-rate system has been replaced by a streamlined two-slab structure of 5 per cent and 18 per cent, with a separate 40 per cent slab retained for luxury and sin goods. (ANI)

Source

The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.