Finance Minister Sitharaman: GST delivers consumer justice with lower rates and relief
New Delhi, July 2: Union Finance Minister Nirmala Sitharaman stated on Saturday that the Goods and Services Tax (GST) has brought down rates compared to the previous government, providing justice to consumers. She emphasised that GST has enhanced tax buoyancy for both the Central government and states.
Sitharaman debunked the notion that states suffer losses after adopting GST and addressed Rahul Gandhi's criticism of GST as the 'Gabbar Singh' tax. She called such statements shameful and asserted that GST has actually brought relief to the common citizen.
The Union Finance Minister highlighted specific examples of reduced tax burdens under GST, such as hair oil, toothpaste, soaps, perfumes, and detergents.
Pre-GST, the average tax burden on these items was nearly 28 per cent, which was subsequently reduced to 18 per cent under GST. Sitharaman emphasised that these tangible numbers refute claims that GST has imposed additional burdens on the people.
Furthermore, Sitharaman mentioned that many common-use items and services have been exempted from GST for the benefit of the people. Examples include unbranded food items like rice, wheat, flour, and curd, as well as services like healthcare, education, public transportation, and agricultural services.
In related news, the Ministry of Finance reported that India's gross GST revenue collection for June reached Rs 1,61,497 crore, marking a 12 per cent increase compared to the same period last year. This is the fourth time the gross GST collection has surpassed the Rs 1.60 lakh crore mark.
Also Read: Parineeti Chopra, Raghav Chadha pay obeisance at Golden Temple in Amritsar
- With inputs from agencies
