'Committed to continue this journey of reforms' PM Modi hails benefit of GST for households
Prime Minister Narendra Modi hailed the benefits of the Goods and Services Tax (GST), which have made household goods cheaper.
Sharing a report on the comparison of household goods prices before and after the implementation of GST, the PM said that his government is committed to reforms.
“For us, reforms are a means to improve the lives of 140 crore Indians. After the introduction of GST, goods for household use have become much cheaper. This has resulted in significant savings for the poor and common man. We are committed to continuing this journey of reforms to transform people’s lives,” he said in a post on X (formally Twitter).
On July 1, 2017, GST laws were implemented, replacing a complex web of central and state taxes. Under the Indian GST, goods and services are categorized into different tax slabs, including 5 percent, 12 percent, 18 percent and 28 percent.
According to data by the Central Board of Indirect Taxes and Customs (CBIC), the majority of household items including flour, cosmetics, television, refrigerator etc have become cheaper post GST implementation.
