Jaipur (Rajasthan) [India], September 5 : Rajasthan Chief Minister Bhajanalal Sharma expressed gratitude towards Prime Minister Narendra Modi for the move to rationalise the Goods and Services Tax (GST).
Speaking to reporters on Thursday, CM Bhajanlal Sharma lauded the GST reforms for reducing tax slabs on essential items.
He said, "Under the leadership of PM Modi, a historic decision was made yesterday. The GST Council has taken a major decision in the direction of GST reforms. On behalf of the eight crore people of Rajasthan, I thank PM Modi for working to benefit the common man, by keeping in mind the concept of essential 'roti, kapda aur makaan' (food, clothes and shelter) in the life of the common man."
The Chief Minister added that the simplification of GST rates will benefit the common man, farmers, labourers and traders in the country.
"Simplification of GST rates will benefit the common man a lot; farmers, labourers, and traders will benefit the most from this," he said.
Rajasthan Deputy CM and the state's Finance Minister, Diya Kumari, hailed PM Modi and Union Finance Minister Nirmala Sitharaman, calling the GST reforms a "big gift" for the citizens.
"I would like to thank the PM and Union Finance Minister. The manner in which they have brought GST Reforms will bring major relief to everyone. Everyone is delighted and thanking the PM and the Centre. This was much-needed...This is a big gift to the common man," Diya Kumari told ANI.
The 56th GST council meeting decided to rationalise GST rates to two slabs of 5 per cent and 18 per cent by merging the 12 per cent and 28 per cent rates.
Union FM Nirmala Sitharaman announced the decision on September 3, after she chaired the GST council meeting. This has reduced the previous GST slabs from 5 per cent, which consisted of essential goods and services, including food and kitchen items, agricultural equipment, handicrafts and small industries, and also medical equipment and diagnostic kits.
While the 18 per cent slab consists of a standard rate for most goods and services, including automobiles such as small cars and motorcycles (up to 350cc), consumer goods like electronic items, household goods, and some professional services.
Additionally, there is a 40 per cent slab for luxury and sin goods, including tobacco and pan Masala, products such as cigarettes, bidis, and aerated sugary beverages, as well as luxury vehicles, high-end motorcycles above 350cc, yachts, and helicopters.
Notably, some essential services and educational items are fully exempt from GST, including individual health, family floater, and life insurance.