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| AI Generated |
In the 56th gst council meeting which was held on 3 to 4th
September 2025 in new Delhi., the finance minister Nirmala Sitaraman announced
that there will be only 2 +1 gst slabs. The two gst slabs will of 5 % and 10% ,
while the 1 will be known by the name of sin tax imposing 40% on the luxury
products . In this meeting , the finance minister said that these reforms are
done for the common man .
In 2017 when gst came into force then the finance minister at that time
was Mr. Arun Jaitley . At that time he said that the next generation reforms
will come within 2 to 3 years . But he died and also this plan was postponed
due to corona virus . The reforms in gst was also demanded by current leader of
opposition Shree Rahul Gandhi . He has also demanded that gst slabs must be
easier so that everyone can understand very easily .
The new gst slabs for several goods and sections are given below …..
·
In four wheeler sections: GST reduced to 18% from 28% for petrol and petrol hybrid
cars , cng cars (not exceeding 1200cc and 4000mm) . Diesel and diesel hybrid
cars (not exceeding 1200cc and 4000mm)
·
Buses , trucks , three
wheelers , all auto parts , two wheelers (350cc or less than it) , gst has been
reduced to 18% from 18% .
·
In agriculture sector : tractors ,tyres and parts ,
harvester, thresher, sprinklers ,drip irrigation ,poultry and bee keeping
machines , bio pesticides , natural methanol has been put in 5% slabs.
·
Service sector: Hotel stays up to rs. 7500/day , gyms ,
salons, barbers , yoga products has been put into 5% gst slabs.
·
Toys , sports and handicrafts: Man made fibre and yarn ,
handcraft idols and statues , paintings , sculptures, wooden or metallic or textile dolls and toys
has been kept in 5% gst slabs.
·
0% gst on educational essential items like pencils , erasers
,crayons , sharpeners.
While on geometry boxes , school cartons , trays gst slab is
5% .
·
Medical sector : 33 life saving drugs ,diagnostic kits
will face nil gst . While other medicines including Ayurveda , unani ,
homeopathy will face 5% gst . Spectacles and corrective goggles ,medical oxygen
,thermometers , surgical instruments, medical
,dental and veterinary devices are kept into 5% gst slab.
·
GST exemptions on life insurance and health insurance premium
will expand financial protection and
support the vision of Mission Insurance for all by 2047.
How these reforms will benefit common people:
·
Lower prices high demand for the products .Consumption will
increase and so GDP will also increase.
·
Reduced rate on inputs like cements , auto parts , and
handicrafts lower costs and make small
business more competitive.
·
Simpler tax rates will encourage compliance expanding the tax
base and improving revenues .
·
Lower rates with better compliance increase collection.
·
Exemption of gst on insurance and Essential medicines
strengthens household security and access to health care .
The sin tax are applied on pan Masala
, cigarettes, beedi and unmanufactured tobacco ,zarda , chewable tobacco, Gutkha,
caffeinated beverages , mid size or large cars , motor cycles (>350cc) .
This will not come into force on 22nd September. This will came into force when the centre
will discharge all the loans which is borrowed to compensate the states .
The new gst reforms are expected to
boost the domestic market. It will also
reduce the external pressure exerted on India by some countries .
Team Yuva Aaveg-
Shashwat
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