New Delhi [India], September 23 : Kausar Jahan, Chairperson of the Delhi Hajj Committee, on Tuesday welcomed the implementation of the new Goods and Services Tax reforms, stating that the move will result in a lot of savings for families.
She also reiterated Prime Minister Narendra Modi's appeal to use 'Swadeshi' products, mentioning the importance of incorporating Made in India products into our daily lives, particularly during this festive season.
"After the new changes, families will be able to save a lot of money. There will be a tax reduction on daily-use items, which will help the customers and shopkeepers. PM Modi has also appealed to adopt 'Swadeshi' products. We should use products made in India in our daily lives and also during this festive season. This will help India become Atmanirbhar..."
The Goods and Services Tax (GST) reforms, approved by the Union Government on September 4, came into effect on Monday. GST 2.0 features two main tax slabs, 5% and 18%, with a 40% compensation cess for luxury and sin goods.
The reform to the Goods and Services Tax (GST) structure, approved during the 56th meeting of the GST Council earlier this month, takes effect from September 22.
The new framework is expected to ease compliance, reduce consumer prices, boost manufacturing, and support a wide range of industries, from agriculture to automobiles and from FMCG to renewable energy, and is intended to lower the cost of living, strengthen MSMEs, widen the tax base, and drive inclusive growth.
In the fast-moving consumer goods (FMCG) and dairy sector, major brands like Amul and Mother Dairy have announced substantial price cuts, reflecting the full benefit of the GST reduction.