Amaravati (Andhra Pradesh) [India], September 21 (ANI): Chairman of the 20-Points Programme Implementation, Lanka Dinakar, Government of Andhra Pradesh lauded the revision of Goods and Services Tax (GST) slabs and said that the primary motive of the Prime Minister Narendra Modi is to benefit common man with the Next Generation GST Reforms for Ease of Doing of Doing Business.
Lanka Dinakar said, “I am extending my sincere thanks to Prime Minister Narendra Modi and Union Finance Minister Nirmala Sitaraman on the implementation of Next Generation GST Reforms by restructuring the GST rates from 4 categories 5%, 12%, 18% and 28% to 2 categories 5% and 18% respectively with effect from September 22 as per the decision of 56th GST Council Meeting.”
“The primary motive of Prime Minister Narendra Modi is to benefit the common men of our country with the Next Generation GST Reforms for Ease of Doing Business and to provide access of the essential goods and services to the general public at an affordable price,” he said.
He expressed his gratitude to Andhra Pradesh Chief Minister Nara Chandrababu Naidu stating his proactive, positive resolution was in favour of the upcoming GST Reforms.
“Further, I am expressing my special thanks to Chief Minister Nara Chandrababu Naidu on his proactive positive resolution in favour of the upcoming GST Reforms by expressing his thanks to PM Narendra Modi and Union Finance Minister Nirmala Sitaraman,” he said.
“After the announcement of Next Generation GST Reforms by the Union Government, people of the country are in Dussehra and Dipawali double dhamaka mood since Purchasing Power for 90 percent of the families in the country is going to be increased as their savings will increase on their spending for their day-to-day living expenditure on the essential commodities and services,” he added.
He said that a huge amount of savings is possible from the expenditure of Life and Health Insurance with zero GST.
“A huge amount of savings is possible from the expenditure of Life and Health Insurance with zero GST, Food, Life-saving medicines, and medical equipment have been brought down to zero or 5%, School children for their Education needed books and other requirements have been brought down to zero or 5%, Tractors for Agriculture needs and Cement for the Construction needs have been brought down to 18 from the existing 28%, Vehicles with less than 1500 CC prices are also coming down drastically due to the lower GST,” he added.
Earlier this month, the 56th GST council meeting decided to rationalise GST rates to two slabs of 5 per cent and 18 per cent by merging the 12 per cent and 28 per cent rates.
5 per cent slab consists of essential goods and services, including food and kitchen item like butter, ghee, cheese, dairy spreads, pre-packaged namkeens, bhujia, mixtures, and utensils; agricultural equipment like drip irrigation systems, sprinklers, bio-pesticides, micronutrients, soil preparation machines, harvesting tools, tractors, and tractor tyres; handicrafts and small industries like sewing machines and their parts; and health and wellness like medical equipment and diagnostic kits.
While the 18 per cent slab consists of a standard rate for most goods and services, including automobiles such as small cars and motorcycles (up to 350 cc), consumer goods like electronic items, household goods, and some professional services, a uniform 18 per cent rate applies to all auto parts.
Additionally, there is a 40 per cent slab for luxury and sin goods, including tobacco and pan Masala, products such as cigarettes, bidis, and aerated sugary beverages, as well as luxury vehicles, high-end motorcycles above 350 cc, yachts, and helicopters.
Moreover, some essential services and educational items are fully exempted from GST, including individual health, family floater and life insurance, no GST on health and life insurance premiums, education and healthcare, and certain services related to education and healthcare are GST-exempt. (ANI)
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