Delhi, July 2: On Saturday, Union Finance Minister Nirmala Sitharaman claimed the GST has done consumers justice by lowering prices compared to the previous government.
She said that the GST has boosted state and federal tax revenue. GST has reduced charges for customers. Before GST, India’s indirect tax structure was fragmented, making each state an industrial and consumer market. GST buoyancy has increased tax collection more than GSDP growth. The centre and states benefit. Dispel the idea that states are losing out after embracing GST. “Despite COVID-19, no state suffers after GST,” claimed Union Finance Minister Nirmala Sitharaman.
The Union Finance Minister called Rahul Gandhi’s “Gabbar Singh” tax comment disgraceful and stated that the GST has genuinely relieved the average people.
The average pre-GST tax burden on hair oil, toothpaste, soaps, fragrances, and detergents was approximately 28%, but GST reduced it to 18%. These numbers exist. So, someone may argue, GST has brought in a burden, and I don’t want to repeat the complete term, but it is being nicknamed the “Gabbar Singh” tax, which is a pity because this nation should know. The Union Finance Minister stated GST helped ordinary people.
Nirmala Sitharaman noted that several common-use commodities and services have been exempted from GST for the people.
Rice, wheat, flour, curd, and other unpackaged foods are free from GST. Nirmala Sitharaman said GST-exempt services include healthcare, education, public transport, and agriculture.
On Saturday, the Ministry of Finance said that India’s June GST income was Rs 1,61,497 crore, up 12% from previous year.
