By Our Reporter
SHILLONG, Sep 12: Terming the recent GST overhaul a landmark step in India’s tax regime, Chief Minister Conrad Sangma Sangma on Friday said that essential items would become cheaper under the new rates, boosting household savings and increasing disposable incomes.
He added that small traders and businessmen would benefit from simplified compliance, while Indian industry as a whole would gain from greater competitiveness.
Making a suo motu statement, the chief minister told the Assembly that the latest GST reforms would directly improve the lives of citizens while easing compliance for businesses. The chief minister explained that the 56th GST Council, chaired by Union Finance Minister Nirmala Sitharaman, had abolished the 12 per cent and 28 per cent slabs, replacing them with two rates of 5 per cent and 18 per cent, along with a 40 per cent slab for sin and luxury goods.
He said the new structure would come into force on September 22, 2025.
He expressed gratitude to Prime Minister Narendra Modi, Finance Minister Sitharaman and the GST Council members for what he described as a historic move.
The chief minister stressed that the government welcomed the reforms, which he said would strengthen businesses and bring tangible relief to citizens of the state.
The revised GST rates are set to come into effect from September 22.
