Families would have saved several lakhs more had GST restructured 8 years ago: Tamil Nadu CM
Tamil Nadu Chief Minister M K Stalin said families would have saved many lakh crores of rupees more had the GST reforms been initiated eight years ago.
Tamil Nadu Chief Minister M K Stalin on Tuesday took a swipe at Prime Minister Narendra Modi on savings through Goods and Service Tax slab restructuring, and said families would have saved many lakh crores of rupees more had the reforms been initiated eight years ago.
Moreover, he said that it was his duty to point out that 50 per cent of this relief has been actually borne by the state governments, a fact which the Centre has failed to acknowledge as well as appreciate, he claimed.
India implemented the GST reforms, termed 2.0 and “GST Bachat Utsav”, effective from September 22. The restructuring focuses on simplifying the four-slab system of 5 per cent, 12, 18 and 28 per cent into a two-slab structure of 5 and 18 per cent.
Marking the rollout coinciding with the commencement of the Navratri festival, the Prime Minister, in an open letter to Indians on September 22, said, “We have strengthened the hands of the middle class with the massive income tax cuts, which ensure zero tax up to the annual income of Rs 12 lakh. If we combine the income tax cuts and the next general GST reforms, they add up to savings of nearly Rs 2.5 lakh crore for the people.” Referring to Modi’s observation, Stalin said in a post on the social media platform ‘X’ that, on the contrary, the Union BJP Government was denying funds that rightfully belonged to the states.