- Union Finance Minister Nirmala Sitharaman called GST reforms a huge victory for all citizens
- GST reforms implementation was moved ahead of the Deepavali festival as per state considerations
- GST benefits will apply to all products from morning till night, said Sitharaman
Union Finance Minister Nirmala Sitharaman on Sunday said that the GST reforms are a huge victory for each and every citizen of the country.
Taking into account that every state in India has their own festivals, it has been decided to implement the GST reforms much ahead of Prime Minister Narendra Modi's instruction of launching them before Deepavali festival, Sitharaman said at an event in Chennai.
In her address at the event, 'Tax Reforms for Rising Bharat' organised by Chennai Citizens Forum, she said the beneficial impact of Goods and Services Tax would be there for all products from the start of the day till people go to bed.
Explaining some of the key initiatives, Sitharaman said 99% of all the goods which were earlier taxed 12% under GST have now been reduced to 5.
The latest set of GST reforms are set to come into force from Sept. 22.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
