The BJP has hailed Prime Minister Narendra Modi and Finance Minister Arun Jaitley over the reduction in GST rates on a number of products. In a statement, party spokesperson GVL Narasimha Rao said, the new tax regime has emerged as people-friendly in a short span of time. He said the government has given a huge encouragement to an informal sector, which showcases India’s traditions, by exempting 29 handicraft items from the Goods and Services Tax regime.
Mr Rao said, these items have been put on zero per cent tax slab. He said, Mr Modi and Mr Jaitley deserve kudos for further reducing GST rates on a wide array of products and 53 services.
The GST Council yesterday cut tax rates on 29 goods, including second-hand vehicles, confectionery and bio-diesel. Also, tax rates on 53 categories of services, including certain job works, tailoring services and admission to theme parks, have been lowered.