Will GST reforms reduce inflation? Now not 14% tax, only 9.5% tax | Paisa Live | Will GST Reforms Reduce Inflation? Now there will be only 9.5% tax instead of 14%

The central government has started the process of GST reforms, which will directly benefit the common people. According to the SBI report, the government may suffer a tax loss of Rs 85,000 crore, but instead the consumption of ₹ 1.98 lakh crore in the country is estimated to increase. The Average GST rate can be reduced from 14.4% to 9.5%, which will make everyday things cheaper. Proposed structure will have only 5% and 18% slabs. 40% sin tax can be applied on things like paan masala and tobacco. The Central Government Has Initiated a Major GST Reform Process, Likely to Directly Benefit The Common Man. According to SBI’s Report, The Government May Lose ₹ 85,000 Crore in Tax Revenue, But Consumption is expected to rain by ₹ 1.98 Lakh Crore. The average GST RATE BC Fall from 14.4% to 9.5%, Making Essential Items Cheaper. The New GST structure may include just two slabs: 5% and 18%. Harmful items like pan masala and tobacco may attract a 40% sin tax. A consumption boost during the festive season could uplift the economy and create jobs.