GST reforms are in interest of nation, consumers: Jai Ram

Leader of the Opposition Jai Ram Thakur today said that it was wrong to assume that small states would lose revenue due to reforms approved by the Goods and Services Tax (GST) Council, as these were in the larger interest of the country and consumers.

Thakur, while addressing mediapersons here, said that the GST reforms undertaken on September 3 were historic and would strengthen the economy. He added that the impact of these economic reforms would become visible in the coming days.

He said, “Every state government will benefit from the GST reforms. It is wrong to say that small states will be at a loss as every state will get revenue as per the GST collection.” He added that all states had been compensated and the reforms were in the larger interest of the country. These reforms would benefit every section of society, be it consumers, industrialists or poor people when they come into force from September 22, he claimed.

Thakur said that many life-saving drugs had been excluded from the ambit of the GST. “Most of the commodities in the 18 per cent tax slab had been brought under the 5 per cent slab. There will be a massive impact and the prices of most of the commodities will reduce drastically after these reforms,” he added.

The former Chief Minister said that the GST on cement, television, dish washer and AC, too, had been reduced from 28 per cent to 18 per cent. He added that on August 15, Prime Minister Narendra Modi had announced that reforms would be made to the GST system and on September 3, the 56th meeting of the GST Council took some very important decisions and changed the tax slabs.