GST 2.0 will bring down grocery bills by 13 pc, Rs 70,000 savings on small car purchases
GST
Dated:- 22-9-2025
PTI
New Delhi, Sep 22 (PTI) The GST next-gen reforms, which kicked in from Monday, will lead to a saving of 13 per cent in the household bills for groceries and daily essentials, while a small car buyer could save around Rs 70,000.
According to government estimates, stationery, clothing, footwear and medicines purchases would bring in savings in the range of 7-12 per cent, while the savings would go up to 18 per cent in the case of individual health and life insurance policies, which have been exempt from GST effective Monday.
As many as 375 items, including groceries, agri-equipments, clothing, medicines and automo
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =
in income tax exemption to Rs 12 lakh given in the Budget, will be a “double bonanza” for people.
Modi said the cut in GST rates and the hike in I-T exemption limit will help households save Rs 2.5 lakh crore annually.
“Now, the poor, the neo-middle class, and the middle class are receiving a double bonanza. With the reduction in GST, it will be easier for them to fulfil their dreams,” Modi said.
Effective Monday, GST has become a two-tier structure wherein the majority of goods and services will attract tax of 5 per cent and 18 per cent. A 40 per cent tax will be levied on ultra-luxury items, while tobacco and related products will continue to be in the 28 per cent plus cess category.
Since its launch on July 1, 2017, Goods and Se
= = = = = = = =
Plain text (Extract) only
For full text:-Visit the Source
= = = = = = = =