Chennai: Finance Minister of India Nirmala Sitharaman on Sunday described the latest GST reforms as a major victory for every citizen of the country.
Speaking at the “Tax Reforms for Rising Bharat” event organised by the Chennai Citizens Forum, she said the government decided to roll out the reforms earlier than Prime Minister of India Narendra Modi’s directive of launching them before Deepavali, considering the diverse festivals celebrated across states.
Sitharaman noted that the benefits of the Goods and Services Tax would be felt daily, “from the time people wake up until they go to bed.”
Highlighting the key changes, she said that 99 per cent of goods previously taxed at 12 per cent under GST would now fall under the 5 per cent slab.
The new GST reforms will come into effect from September 22.
