Will benefit industrial sector and our farmers: Chhattisgarh CM Sai welcomes upcoming new GST rates

Raipur (Chhattisgarh) [India], October 3 (HBTV): Chhattisgarh Chief Minister Vishnu Deo Sai on Sunday welcomed the new GST rates coming into effect nationwide from September 22, stating that the reforms would benefit both the industrial sector and farmers.

Speaking to reporters, Sai said, ‘Its impact will be visible everywhere from tomorrow because the four GST slabs have been reduced to two; now there are slabs of 5% and 18%. This will benefit the industrial sector, and our farmer brothers and sisters will also benefit greatly; the cost of agriculture will reduce, and farmers will benefit.’

Earlier this month, the 56th GST Council meeting decided to rationalise GST rates to two slabs of 5 per cent and 18 per cent by merging the previous 12 per cent and 28 per cent rates.

The 5 per cent slab includes essential goods and services such as food items like butter, ghee, cheese, dairy spreads, pre-packaged namkeens, bhujia, mixtures, utensils, agricultural equipment including drip irrigation systems, sprinklers, bio-pesticides, micronutrients, soil preparation machines, harvesting tools, tractors and tractor tyres, handicrafts and small industries items like sewing machines and parts, and medical equipment and diagnostic kits.

The 18 per cent slab is a standard rate applicable to most goods and services, including automobiles such as small cars and motorcycles up to 350 cc, consumer electronics, household goods, and professional services, with a uniform 18 per cent on auto parts.

A separate 40 per cent slab applies to luxury and sin goods, including tobacco, pan masala, cigarettes, bidis, aerated sugary beverages, luxury vehicles, high-end motorcycles above 350 cc, yachts, and helicopters.

Certain essential services and educational items remain fully exempt, including individual health, family floater and life insurance, education, healthcare, and related services.

(ANI)