UP International Trade Show: Further GST rate relief is likely once again. Prime Minister Narendra Modi has hinted at this. The GST system, which was launched eight years ago, recently underwent its biggest overhaul.

UP International Trade Show: The central government recently provided significant relief to the public by reducing GST rates. The new GST rates came into effect on September 22nd. Following this relief, Prime Minister Narendra Modi announced further good news. Speaking at the inaugural session of the UP International Trade Show in Noida, Prime Minister Modi stated that as the country's economy strengthens, the tax burden will be reduced. He also hinted at further GST rate reductions.

PM Modi inaugurated the trade show in Greater Noida.

He said that the biggest change in the GST system, which was started eight years ago, was recently made. The GST Council reduced taxes on about 400 items, which came into effect on September 22, the first day of Navratri. Modi said that these changes will give new strength to India's economic growth story. Inaugurating a trade show in Greater Noida, Modi said that the country is celebrating GST today, but the reforms will not end here. Economic strength was brought by introducing GST in 2017, and this year too, by improving it, the tax burden on the people is being reduced. As the country becomes stronger, more changes will be made in GST and people will get more relief.

 “GST reforms will continue unabated”

Prime Minister Narendra Modi said that in 2014, a purchase worth ₹100,000 was subject to a tax of approximately ₹25,000. Now, that tax has been reduced to just ₹5,000-₹6,000. He added that the pre-2014 government was lying to hide its failures. He further stated that the government has increased people's income and savings, and will not stop there. As the country's economy strengthens, taxes will be further reduced. GST reforms will continue.

Emphasis on India's self-reliance

The Prime Minister also emphasized India's self-reliance. He said that a country like India should not be dependent on anyone. India will no longer be dependent on others for its development. Modi stated that through its self-reliance, India is laying a strong foundation for the coming decade. If the country remains dependent on others, its development will be compromised. He said that the world is facing uncertainties and disruptions, but India is consistently achieving strong and impressive growth.

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