Hazribagh (Jharkhand), September 22 (IANS) A wave of gratitude was swept away on Monday as local people, shopkeepers and political representatives in Hazribagh, Jharkhand, who expressed his heartfelt thanks to Prime Minister Narendra Modi for the latest Goods and Services Tax (GST) reforms on Monday. The revised GST rates, which came into force today, have given very important relief to homes and businesses on time for the festive season.
The reforms implemented from the first day of Navratri have created a vibrant and enthusiastic environment throughout the city. There is a lot with shopkeepers on the streets, markets are gaining momentum, and homes are celebrating the possibility of low prices on essential commodities.
The step MP Manish Jiswal said, “Prime Minister Modi’s government has given significant relief to the common man, not once, but twice this year. Earlier, income tax exemption for income of up to Rs 12 lakhs helped the middle class, and will now benefit every part of the society.
Jaiswal further clarified the technical aspect of reform. “The government has streamlined the tax structure by reducing the number of GST slabs. Only two primary tax slabs will now be in operation, simplifying compliance and providing wide benefits.”
Local women and housewives have welcomed changes, specifically highlighting the benefits for the domestic budget.
Sharing her excitement, a local resident, Archana Sinha, told IANS, “GST cut is a great relief, especially on health and kitchen related items. The cost of gas cylinders will be reduced now, and we will be able to spend more during festivals like Durga Puja, Dussha, and Chhath.
Another resident, Jyotna Devi said: “We are actually happy with the revised GST rates. It will reduce the burden on our domestic expenses and allow us to celebrate the upcoming festivals with more pleasure.”
The business community has also welcomed the move. Hazaribagh Textile Traders Association Secretary Sunil Gupta said: “The market had become sluggish in recent weeks. People were stopping shopping, some were waiting for financial relief. Now that the GST cut has already increased, the footfall has already increased.
Earlier, in the day, Union Finance Minister Nirmala Sitarman announced that the objective of overhaul is to increase the disposable income of consumers to an injection of about Rs 2 lakh crore in the economy.
More than 50 items including UHT milk, Khakras, pre-packed cheese and chapatis and parathas are now under zero-tax brackets due to the new structure.
Thirty -three essential medicines and treatments for conditions, including cancer and rare diseases, are now exempted from GST, while many other drugs have reduced tax rates to reduce 12 percent. Medical devices, such as diagnostic kits and glucometers, now increase GST of only 5 percent.
The levy has been removed on the stationery items for schools and offices including eraser, pencils, notebooks and maps. Prices for many consumers staples have fallen, including butter, biscuits, condensed milk, namken, jam, ketchup, juice, dried fruits, ghee, ice cream and sausage.
Dry fruits and nuts, including almonds, cashews, pistachios and dates, will now be taxed at 5 percent instead of 12 percent.
GST on kitchen equipment and electronics including air conditioners, TV, washing machines and dishwashers has been reduced from 28 percent to 18 percent.
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JK/VD