Union Finance Minister Arun Jaitley today gave a breather to all the Indians when he announced a major overhaul on the new national Goods and Services Tax (GST) saying that only 50 items will remain in the highest tax slab of 28 percent while around 178 items have been moved down to the 18 percent bracket. This will take effect on November 15, 2017. Dining out with food at all restaurants except starred hotels will be taxed at only 5 percent. This is a huge decrease from the previous 18 percent. The decision was taken after a day-long meeting that happened today with state finance ministers. Twitterati expressed their joy and euphoria through their tweets on the much-needed decision and hailed the government for listening to common people’s grievances.
GST rates on chocolates, chewing gum, shampoo, deodorant, shoe polish, detergents, nutrition drinks, marble, and cosmetics have all been slashed down and will come into effect from November 15, 2017. Eating out whether ac/non-ac both have been reduced to 5 percent. Only 50 items have been kept in the 28 percent bracket which constitutes luxury goods and are not everyday items. Twitter was abuzz with tweets about the GST council meeting. Sample a few below.
Prime Minister Narendra Modi led the way
Amit Shah hailed the participative governance
The hospitality industry will bloom
This government listens
People are happy about the decrease in GST for eating out
Pritish Nandy approves
The Goods and Services Tax was a historic decision taken by the Narendra Modi led government. Finance Minister Arun Jaitly earned much flak about GST since many people did not understand its effect and were habituated for criticizing the government. However, by taking these decisions today the government has once again proved that it is not isolated from people and is working to uplift the living standards of people of India.