New Delhi: The BJP is preparing to launch a campaign in support of GST reforms in the country. The BJP is launching the GST Savings Festival from September 22nd. As part of this campaign, which will run until September 29th, each BJP MP will march on foot in the markets of their respective constituencies.
The objective behind this campaign is to connect directly with traders, shopkeepers, and the general public, spread awareness about the benefits of the Goods and Services Tax (GST), and highlight how it has contributed to savings and transparency in the economy. The week-long campaign is expected to see widespread participation from party workers and leaders from various states. By organizing foot marches in local markets, the BJP plans to strengthen its grassroots reach and connect with small business owners to highlight government policies that promote trade and commerce.
The GST, which will come into effect on September 22nd, will primarily have two tax rates: 5% and 18%. Luxury and luxury goods will be taxed at a separate rate of 40 percent. Under the new changes, tobacco and related products will remain subject to a 28 percent plus cess. Currently, the Goods and Services Tax (GST) is levied under four slabs: 5, 12, 18, and 28 percent. The government has directed that trade and industry pass on the full benefits of the new rates to consumers once they are implemented.
The government has clarified the applicable rates on various goods by issuing clear schedules in a notification. According to government instructions, businesses must immediately update their systems and establish pricing in supply chains based on the new rates. The decision to reduce the rates was taken at the GST Council meeting held on September 3 and 4.
