Flour, TV, refrigerator, LPG become cheaper: PM Modi says GST resulted in 'significant savings' for poor, common man
Narendra Modi praised the transformative impact of the Goods and Services Tax (GST) over its seven-year implementation. Citing data compiled y the Central Board of Indirect Taxes and Customs (CBIC), PM Modi posted on «X» (formerly Twitter) that GST has significantly enhanced the lives of 140 crore Indians.
«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.»
The Prime Minister also emphasized that the implementation of GST has led to increased savings for the poor and common man. He noted that GST has lowered taxes on essential household items such as flour, curd, and detergent, making daily necessities more affordable.
He said, «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».
As Goods and Services Tax (GST) marks its seventh anniversary on July 1, the transformative tax reform implemented in 2017 continues to impact everyday life. The GST has lowered taxes on numerous household items, making essentials like flour, detergent, and television more affordable, the report claims.
According to the Central Board of Indirect Taxes and Customs, this consolidation of central and state taxes into a single system has significantly reduced the cascading effect of double taxation and fostered a unified national market.
Finance Minister Nirmala Sitharaman recently announced the next GST Council meeting for mid-to-late
