GANGTOK, Sept 4: Sikkim Chief Minister Prem Singh Tamang on Thursday said the reforms in the GST structure were a transformative initiative and a progressive step towards inclusive growth.
The GST Council, comprising finance ministers from Centre and states, on Wednesday evening approved to make GST a two-tier structure of 5 and 18 per cent, with a special rate of 40 per cent on tobacco and related products and ultra-luxury items. The new rates will be effective September 22.
Currently, GST is levied in the slabs of 5, 12, 18 and 28 per cent.
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“The revised GST slabs for essentials, education, healthcare, and agriculture mark a progressive step towards inclusive growth. On behalf of the people of Sikkim, I extend my heartfelt thanks and congratulations to Hon’ble Prime Minister Shri @narendramodi Ji and Hon’ble Union Finance Minister Smt @nsitharaman Ji for this transformative initiative.
“We wholeheartedly welcome this pro-people reform, which will benefit farmers, businesses, and citizens alike, in line with the Hon’ble Prime Minister’s vision of building a fair, transparent, and citizen-friendly tax system for a better India,” Tamang said in a post on X.
The Sikkim unit of the BJP also welcomed the cut on GST rates, and said the reforms will significantly reduce the financial burden on the underprivileged, farmers, and small-scale entrepreneurs while fostering inclusive economic growth.
The simplified tax structure further empowers small businesses and MSMEs, the backbone of rural economy, by lowering compliance costs and promoting ease of doing business, it said in a statement.
“The BJP Sikkim Unit is committed to supporting this reform, ensuring its benefits reach every corner of Sikkim, creating opportunities for our youth, and aligning with ‘Viksit Bharat 2047’ for a prosperous, self-reliant India,” it added. (PTI)
