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Prime Minister Narendra Modi, while addressing Republic Summit, indicated that the Government is planning to reduce goods and services tax on 25-30 items — including air conditioners, dishwashers and digital cameras. PM Modi stated, “Today, the GST system has been established to a large extent and we are working towards a position where 99 per cent things will attract the sub-18 per cent GST slab.”
PM Modi also stated that only luxury items such as expensive cars, cigarettes and alcohol will constitute 1% of the items under the 28% tax slab. PM Modi also stated that before the implementation of the GST, the number of registered enterprises stood at 66 lakh, whereas now the tally has risen to 1.2 crores.
Modi also said, “The country was demanding GST for decades. I am pleased to say that GST implementation has removed contradictions in the trade market and the efficiency of the system is improving. The economy is also getting transparent.”
Modi conveyed, “We are of the opinion of making GST as smooth as possible for the enterprises,” as the GST Council is scheduled to meet this Saturday.
