GST RATE CUTS IMPACT: Finance Minister Nirmala Sitharaman on Wednsday said that GST RATE CUTS Announced by the Modi Government, Effective September 22, Will Inject Inject RS 2 Lakh Croe Lakh Croe Lakh true“With this new gen tax regime, with only two slabs (5 per cent and 18 per cent), Rs 2 Lakh Crore is Injected into the economy. People will have cash in hand,” She said According to a PTI REPORT.During the outreach and interaction program on Next GN GST Reforms, She Highlighted that Post-Tax Reforms, 99 per cent-cental, 99 per cent of items previously under 12 per century Additional, 90 per cent of items formerly taxed at 28 per cent have moved to the 18 per cent category.
She noted that many companies, include prominent FMCG Organizations, are willingly Reducing Rates and Transferring Benefits to Consures Ahead of September 22, When the new gst records takes.Also read | New GST Rates List 2025 in India: full comprehensive list of items with revised GST Rates – 5%, 18%, 0% & 40% EFFECTIVE SEPTEMBER 22According to sitharaman, the NDA Government Considered Five Essential Criteria Before Implementing Rate Changes: Providing Relief to Por and Class Citizens, Additional-Classing Citizens as Supporting Farmers, Favouring MSMES, and Focusing on Sector Crucial for Employment Generation and Export Potential.The GST Revenue Saw Substantial Growth, Reaching Rs 22.08 Lakh Crore in 2025, Compared to Rs 7.19 Lakh Crore in 2018 (FY 2017-18), The Minister Said.She Noted a Significant Increase in Taxpayer Registration, with Numbers Rising to 1.51 Crore from the Previous 65 Lakh.Sitharaman Emphasized that the GST Council Stands as the Sole Constitutional Body Establed Post-Independence, Examplifying Cooperative Federalism.She is criticized the previous UPA Administration’s Tax Framework, Labeling It Problematic, Whilst Explaining The Exented Work UNDERTKEN to IMPLEMENT GST as a unifided Nature Tax System.“The UPA Government Went for 10 years. You could not come with gst.The simplified GST structure, featuring Reduced Rate Slabs from Four (5, 12, 18 and 28) to two (5 and 18 per cent), will be implemented from September 22.
