By Admin 
GST Rate Cut: Before Navratri, the central government has given great news to the common people. Notification has been issued by the government regarding the new rates of Goods and Services Tax (GST). These new rates will be applicable from September 22, after which many things will become cheaper. It was announced on 3 September after a two -day meeting of the GST Council and after that the Finance Ministry has issued a notification.
What were the changes?
The new rates will replace the notification released on 28 June in the year 2017. That is, from September 22, goods and services will be available according to the new GST rates. In the next few days, notifications in this regard will also be issued by the state governments. Earlier there were four rates of GST – 5 percent, 12 percent, 18 percent and 28 percent. But now according to the new rates, only two slabs will remain – 5 percent and 18 percent.
What will be the benefit?
The biggest advantage will be that most of the goods and services that used to come in 28 percent slabs have been made in 18 percent slab. At the same time, many items and services of 12 percent slab have now come in the slab of 5 percent. However, harmful and luxury items are now removed from 28 percent to 40 percent special slab.
It is worth noting that the Central Government has taken this step of GST reform (GST reform) at a time when the US, who is trying to stop the Ukraine war, has put an additional 25 percent tariff on India as a penalty on India due to buying crude oil from Russia. After this move, it has become very difficult for Indian exporters to be in competition in the US market. However, after this, the government has taken several steps to provide relief to exporters.
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