New Delhi: On Independence Day, PM Narendra Modi made a big announcement about GST reform from the ramparts of the Red Fort in Delhi. Now all eyes are on the GST Council meeting. It is being speculated that there may be a change in the GST slab. A big change in the GST slab means that all things will become cheaper, which will provide relief to businessmen as well as common people.
In the GST Council meeting, a big change is expected to be made in the GST slab applicable to cocoa-based, chocolate, flakes and pastries to ice cream. The GST slab is expected to be reduced from 18 to 5 per cent. Therefore, now all eyes are on the GST Council meeting.
Chocolate and ice cream will become cheaper.r
Many big changes are expected to be seen in the GST Council meeting. It is expected that chocolate, ice cream and flakes and pastries will become cheaper. Popular packaged food products can soon reduce the burden on your pocket.
Under the ongoing reform under GST 2.0, the Fitment Committee has recommended that the GST of 1 per cent on products like cocoa-containing chocolate, flakes made from cereals, pastries, and ice cream be reduced to a 5 per cent tax slab.
If this recommendation is considered in the GST Council meeting to be held next week. The price of chocolate will come down, and pastries, which are rapidly expanding their market in India, will become much cheaper than before.
When Trump’s tariff will give Modi’s GST
For information, let us tell you that the economy is going to be affected by the increase in tariffs on American exports. Indian products will now become very expensive when they go to America. This will cause a big loss to the businessmen. PM Narendra Modi himself has announced a change in the GST slab from the ramparts of the Red Fort. Now the GST Council meeting can be held soon. People are likely to get relief from inflation in this.