GST 2.0- Big news for common people of India. After the change in the structure of GST slab, it will now be implemented from 22 September. The common people will get the direct benefit of the implementation of the new GST rates. In fact, now 12 and 28 percent have been removed from the tax slab, while 5 and 18 percent have been kept.
Apart from this, a new slab of 40 percent has been created. After this decision, apart from consumer goods like television and air conditioners, many food and daily use items will become cheaper. You can find out how much relief you will get on goods from 22 September by visiting the website of the Central Government.
How can you check your savings account?
Actually, the government’s MYgov website has launched the website savingswithgst.in. On this website, you can see how much savings you will get on which item. For this, you have to add any item to the cart. After this, you will be able to see the price in three ways. These three categories are – base price, price at the time of VAT and price after Next-Gen GST. In this way, you will be able to know how much savings you will get on which product. There is also a QR facility on the website. You can visit the website savingswithgst.in by scanning the QR code.
What did the Finance Minister say on GST?
Meanwhile, Nirmala Sitharaman said- The comprehensive change in GST is a reform for the people and this step will have a positive impact on 140 crore people of the country. It will have some positive impact on the poorest of the poor. She also said that it is not just a matter of rate reduction but things will also become easier for companies. Whether it is a matter of refund or compliance or registration, things will become more smooth for them.
Sitharaman said- Once this process is completed, 90 percent of the refunds will be automatically cleared within a fixed time. Also, companies will be able to successfully register themselves within three days. Sitharaman said that the reduction in GST rates will reduce the prices of goods and increase consumption and this will benefit the economy overall along with increasing revenue.