GST rates rationalistion should stimulate economy: Cong leader Tharoor
GST
Dated:- 12-9-2025
PTI
Singapore, Sep 12 (PTI) Senior Congress leader Shashi Tharoor on Friday said the rationalisation of GST rates should stimulate Indian economic and business activities, but stressed on the need to move towards a single rate.
He said the Congress party had been demanding the simplification and rationalisation of Goods and Services Tax rates for many years.
“I think the GST cut was a very constructive decision. To be honest, We have been calling for it for some years now. My party has been advocating a simplification of GST from the very beginning,” Tharoor said on the sidelines of CREDAI-NATCON conference here.
“Having four rates
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d. And we can learn from places like Singapore, where we are today, where things are so much more simple and efficient,” Tharoor said.
The GST Council has approved a two-tier GST structure with rates of 5 per cent and 18 per cent for most goods and services and a special rate of 40 per cent for tobacco and related products as well as ultra-luxury items.
The new rates will be effective September 22, barring tobacco and associated products, which will continue to be taxed at 28 per cent plus a compensation cess till December 31.
As part of the rationalisation, GST has been exempted on individual life insurance, including term, ULIP, and endowment plans and reinsurance services. Currently, premium payment on such policies attracts 18 per
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