In support of Prime Minister Narendra Modi’s vision of a “Atmanirbhar Bharat,” traders nationwide hailed the most recent GST amendments on Monday.
They claimed that lowering the tax rates on a variety of commodities would eventually increase demand and lessen the burden on consumers.
The GST rate reduction has lowered the cost of a number of dairy goods, according to Jayen Mehta, Managing Director of the Gujarat Cooperative Milk Marketing Federation (GCMMF), which sells Amul products.
“While butter, ghee, and cheese are now taxed at 5% rather than 12%, the GST on ice cream has decreased from 18% to 5%.” Long-life milk and paneer have been moved to the zero per cent GST bracket,” he said.
Mehta went on to say that Amul has lowered the cost of over 700 goods, allowing customers to benefit from lower GST.
“This will increase consumption, which will benefit the 3.6 million farmer families connected to Amul and the approximately 8–10 crore dairy-dependent households in the nation,” he said.
Prime Minister Modi gave the reform to the people as a “Navratri gift,” according to Arun Gupta, president of the Chamber of Commerce and Industry (CCI) in Jammu.
He claimed that the middle and lower income groups would greatly benefit from lower GST rates on necessities like health insurance and school supplies.
Amar Parwani, president of the CCI Chhattisgarh, stated that the action would directly boost consumer spending, which would boost industry and create jobs.
He remarked, “I express my gratitude to the Prime Minister and the Finance Minister for this important step.”
The most relief, according to Amit Goel, General Secretary of the Runawala Businessmen Association, has been the reduction of GST on everyday goods.
He said that more and more individuals will now be able to acquire necessities that remain within their means.
The Raghunath Bazaar Association’s president, Sanjay Gupta, praised the action as well, stating that there had long been a call for a more straightforward GST structure.
“Goods will become more affordable with reduced rates, and customers will make more purchases.” All things considered, this is a good move that will increase consumption and help the average person,” he stated.
Vinay Chandra, another small business owner, said it is a huge relief that milk and other everyday food items are now included in the zero percent GST category.
“Removing the 5% GST that was previously applied to many necessities will directly help low-income families.” Additionally, it will boost household budgets and lower kitchen expenses,” he said.
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