There is a big planning of the government regarding GST and under this, people with middle class and lower income groups can get relief. According to information received from sources, soon a big relief can be given in GST and the central government can be cut in GST rates. It is being told that the Modi government is seriously considering changing the GST slab and the 12 percent GST Slab can now come in 5 percent.
Preparation of 5% slab instead of 12%
According to sources, the government can provide relief on such items on GST, which are commonly used in homes with middle and lower income and fall under GST Tax Slab of 12 per cent. The government is now considering that most such goods can be transferred to 5 % tax slab or only 12 % slab on them can be abolished. Significantly, most of the everyday items come in this slab.
From clothes to soaps can be cheap
In the next 56th meeting of the GST Council, a big decision can be taken about this and this GST counsil meet can be done this month. If this decision is taken by the government, which can still be cheaper many items like shoes, slippers, sweets, clothes, soaps, toothpastes and dairy products coming in the slab of 12 per cent. Apart from this, cheese, dates, dried fruits, pasta, jam, packaged fruit juice, salty, furniture made of umbrellas, hats, bicycles, wood, handbags made of pencil, jute or cotton, shopping bags are also included.
How many slabs in GST India
In the year 2017, GST was implemented in the country and it has completed eight years on 1 July only. GST rates in the country are decided by GST Counsil and they also include representatives of state and union territories in any decision of change. Talk about GST Slabs in India, so there are four GST slabs right now. There are 5%, 12%, 18% and 28%. Apart from grains, edible oils, sugar, snacks and sweets, gold-silver and all other items have been kept in these tax slabs according to different categories.
Indications are being received by the government before
The signs of great relief on the GST front are already being received by the government. In the month of March, Finance Minister Nirmala Sitharaman also said that the GST rates will decrease even further after the process of rationalizing GST tax slab. Since then, GST Tax Slab was expected to be changed and now according to information received from sources, this big decision can be taken in the next council meeting.