The Modi government has announced significant changes to the GST structure, offering a gift to consumers this festive season. This report explores the impact of the rate rationalisation from a shopping mall, where items have become cheaper. The changes include the abolition of the 12% slab and moving many goods from the 18% and 12% slabs to the 5% slab. This translates to considerable savings for shoppers, particularly on Navratri day. An expert in the broadcast explained the savings with an example: on an item worth 5,000 rupees, the tax paid reduces from 900 rupees (18%) to 250 rupees (5%), which is a “net saving of 650 rupees.” The discussion also delves into how this simplification is a step towards easing business and is expected to boost consumer spending and the economy.
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