Union Finance Minister Nirmala Sitharaman on Sunday hailed the latest GST reforms as a significant victory for every citizen of the country.
Speaking at the "Tax Reforms for Rising Bharat" event organized by the Chennai Citizens Forum, Sitharaman said the changes are being rolled out ahead of schedule, even before Prime Minister Narendra Modi’s directive to implement them before Deepavali , in recognition of the diverse festival calendars across Indian states.
Highlighting the impact of the reforms, she noted that GST benefits now touch every aspect of daily life, "from the moment people wake up to when they go to bed."
A major move includes slashing GST on 99% of goods previously taxed at 12% to just 5%. The new GST reforms will come into effect on September 22.
(With inputs from PTI)