A seminar held recently in Vijayawada shed light on the widespread benefits of the Central Government’s new tax measures, emphasizing their positive impact on both Indian citizens and the national economy.
Lanka Dinakar, Chairman of the Andhra Pradesh Twenty-Point Programme Implementation Committee, delivered a key address titled “Atmanirbhar Next Generation GST Reforms.” He underscored the critical role of GST officials, the Consumer Commission, and trade associations in ensuring that these reduced tax advantages are effectively passed on to the public. Dinakar announced that, as of September 22, the Goods and Services Tax (GST) framework has been streamlined, consolidating four previous tax rates into just two: 5% and 18%. This significant simplification is anticipated to provide substantial financial relief to nearly 90% of Indian households.
He further elaborated that staple goods such as food, medicines, educational supplies, agricultural tractors, cement, and small vehicles will now benefit from these lower tax rates. This strategic reduction is expected to invigorate consumer purchasing power, offering a timely boost as the festive season approaches.
The gathering also heard valuable contributions from other distinguished speakers, including GST Joint Commissioners Prashanth and Kalpana, Potluri Bhaskar Rao, Chairman of the A.P. Chamber of Commerce, and Swami Naidu, President of the AP Star Hotels Owners’ Association.