New Delhi [India], September 8 : The BJP MPs hailed Prime Minister Narendra Modi for 'next gen GST reforms' at the 'Sansad Karyashalaya' organised in the national capital on Sunday and urged traders to pass on GST cut benefits to consumers.
The resolution that was adopted unanimously was moved by Union Minister of Commerce and Industry Piyush Goyal. It praised Prime Minister Narendra Modi for his 'decisive leadership' in fulfilling the vision of 'One Nation, One Tax' by introducing the Goods and Services Tax (GST).
"What once was a cumbersome tax regime of VAT and multiple taxes, due to which our country struggled with a slow and fragmented economy, endless queues at inter-state toll booths, is now replaced by a unified market that has brought fairness, simplicity and strength to our economy. Before 2014, while the governments failed to bring GST, Prime Minister Narendra Modi not only brought GST but also brought it with consensus from across the country," read a statement from the BJP.
The next phase of the reforms, guided by the conviction of PM Modi, has "further simplified the system and placed the citizen at its heart."
"Rates on essentials like food and medicines as well as prices of electronic goods have been significantly reduced, distortions such as inverted duties are being corrected and procedures for small businesses, exporters and startups are being streamlined," the statement read.
The resolution further called upon manufacturers/traders, big and small, to take pride in ensuring that reductions and rebates flow directly to the consumer.
The statement said, "Now it is the duty of every trader to pass on each rupee of relief to the consumer, turning reforms into ease of living, greater demand and a more prosperous economy. This is the Modi Government's call. It is a call for fairness, for growth and for every family in India to feel the benefit. It is a call for an Aatmanirbhar Bharat."
The statement further highlighted how in just 8 years of the tax, the taxpayer base has more than doubled, saying that it has increased from 66 lakh in 2017 to 1.5 crore people in 202 . Subsequently, collections have also surged to more than Rs 22 lakh crore in Financial Year 2024-25, and having monthly collections close to Rs 2 lakh crore.
"A Deloitte survey confirms that 85% of businesses, including MSMEs, are satisfied with GST, proving that India can modernise while carrying both traders and consumers together on this historic journey," the statement added.
Finance Minister on Wednesday announced major Goods and Services Tax (GST) rate cuts, saying that with the two-tier tax rate system approved, the common man will benefit greatly. The GST Council approved the two-tier rate structure of 5% and 18%. The GST rate rationalisation will be implemented from September 22.