"Slashing GST rates will definitely bring down prices of goods by 15-20 per cent": CAIT

New Delhi [India], September 22 (ANI): BJP MP and Confederation of All India Traders (CAIT) Secretary General, Praveen Khandelwal, lauded the GST reforms, calling it a “gift for the common people”.

Speaking to ANI, Khandelwal said, “The gift by slashing GST rates will definitely bring down the prices of goods by 15-20%. We are celebrating this across the country as ‘Bachat Utsav’. The budget of the household of a common woman will be relaxed by 15-20%. Every section of society will benefit.”

He further said that Congress president Mallikarjun Kharge’s criticism of GST reforms has no concrete basis.

“I think Mallikarjun Kharge needs to understand the entire taxation system once again. There is an economic principle–the lower the tax, the higher the revenue. This principle is accepted across the world. In the time to come, all State governments and the Central government will get revenue through this. Kharge ji has little knowledge, so he is unable to understand this math,” he said.

On Sunday, Prime Minister Narendra Modi, in his address to the nation, said that reform is a continuous process. As times change and national needs evolve, next-generation reforms become essential. He noted that, in view of the country’s current requirements and future aspirations, the new GST reforms are being implemented.

PM Modi highlighted that under the new structure, only 5 per cent and 18 per cent tax slabs will primarily remain. (ANI)

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