Maharashtra Chief Minister Devendra Fadnavis on Thursday hailed Prime Minister Narendra Modi’s farsighted vision behind the sweeping GST rate rationalisation, saying it would ease the financial burden on citizens and boost economic activity.
GST Overhaul From September 22
The GST Council on Thursday cleared significant changes to the indirect tax regime, reducing multiple slabs and bringing them down to just 5 per cent and 18 per cent. The new rates will come into effect on September 22, coinciding with the start of Navratri.
Maharashtra’s Role In GST
Highlighting Maharashtra’s contribution, Fadnavis said the state has been a leader in GST collections, contributing the highest share to the national pool. He stressed that these reforms, which he termed second-generation changes, would provide much-needed relief to citizens while ensuring sustainable growth in revenue.
“It is due to PM Modi’s farsighted vision. These reforms are very important, as some slabs have been removed and the common citizen’s tax burden has been reduced,” Fadnavis said.
Boost For Trade And Employment
The Chief Minister also underlined the potential of the new tax structure to boost demand, production, trade, and employment generation. He credited the Modi government with effecting sweeping reforms in indirect taxes and said Maharashtra was fully supportive of the changes.
“PM Modi has brought about transformative reforms. Maharashtra supports GST rationalisation as it will strengthen both businesses and consumers,” he added.
A Step Towards Simplification
Experts believe that the reduction in slabs and the simplification of GST will not only improve compliance but also create a more business-friendly environment. With a leaner tax structure, the government expects stronger consumer sentiment during the festive season.
The reforms are being seen as a landmark step in India’s ongoing tax evolution, aimed at making GST simpler, fairer, and more growth-oriented.
With PTI Inputs
