New Delhi, September 21: Prime Minister Narendra Modi announced on Sunday the launch of a nationwide “GST Utsav” starting from the first day of Navratri on Monday, describing it as a festival of savings for all Indians.
In his address to the nation, the Prime Minister highlighted that beginning September 22, consumers will enjoy reduced prices on their favorite products as the revised GST rates come into effect.
“From tomorrow, the Next Gen GST reforms will be implemented, marking a ‘GST saving festival’,” PM Modi stated.
He added, “Starting tomorrow, you will be able to purchase your preferred items more affordably. This is truly a GST saving festival for every Indian.”
PM Modi emphasized that the recent GST rate reductions will provide double benefits to the poor and the emerging middle class.
Extending his greetings on the occasion of Navratri, he noted that this new phase of GST reforms will directly benefit common citizens, farmers, MSMEs, middle-class families, women, and youth alike.
The government had earlier announced these GST rate cuts on September 4, covering a broad spectrum of products ranging from automobiles to everyday consumer goods.
This initiative represents the most significant indirect tax reform since the introduction of the Goods and Services Tax in July 2017.
The revamped system, often referred to as GST 2.0, features a simplified two-slab structure of 5% and 18%, with an additional 40% slab reserved only for super luxury, sin, and demerit goods.
These reforms were approved by the GST Council during its 56th meeting, where both the Union and state governments reached a consensus.
Earlier on Sunday, the Prime Minister’s Office announced on X that PM Modi would address the nation at 5 p.m.
In his speech, PM Modi underscored that these reforms reflect the cooperative spirit between the Centre and the states.
He concluded by stating that adopting the new tax structure will reduce the cost of goods, boost industry, and strengthen India’s economy.
