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The new GST reforms introduced by the government represent a significant step towards a people-friendly and common man-oriented tax structure, Bharatiya Mazdoor Sangh (BMS) said, as it welcomed the next-generation reforms.
Asserting that the indirect tax regime was heavily reliant on taxing the day-to-day needs of the citizens, BMS, in a statement, said this trend has now been reversed through the next-gen reforms, which introduce a primarily two-rate GST system aimed at reducing the tax burden on the people, while imposing higher taxes on luxury goods consumed by the high-income group. The RSS affiliate Bharatiya Mazdoor Sangh (BMS) has welcomed the reduction of taxes on Labour-intensive industries, Essential daily-use consumer goods, Cement, Food items, Healthcare products including insurance policies, Educational materials, Agricultural machinery and other inputs, Automobiles, Electronic appliances, Other items commonly used by the middle class, the statement said. "We also hope that insurance companies and others will promptly pass on these benefits to the common man by lowering the prices of essential daily-use products," said Ravindra Himte, General Secretary, BMS, in the statement. The GST Council, on Wednesday, after a threadbare discussion, approved significant rate cuts across multiple sectors, which the government has described as a Diwali gift for the nation. On the essential items front, items of daily household use will now cost less. The 56th GST council meeting decided to rationalise GST rates to two slabs of 5 per cent and 18 per cent by merging the 12 per cent and 28 per cent rates. Similarly, Laghu Udyog Bharati (LUB) also wholeheartedly welcomes the historic GST 2.0 reforms "The rationalized rate slabs of 5% and 18%, effective from 22nd September 2025, mark a transformative shift in India's indirect taxation system," it said in a statement. "We commend the visionary leadership of Hon'ble Prime Minister Shri Narendra Modi and the prudent guidance of Finance Minister Smt. Nirmala Sitharaman in ushering in this long-awaited reform. The decision to streamline tax rates, while ensuring that the Ministry of Finance absorbs the short-term revenue loss, demonstrates a strong commitment to economic growth, consumer welfare, and nation interest," Laghu Udyog Bharati said. "This reform is truly path-breaking. It goes beyond mere rate rationalization and signals a major stride towards ease of doing business, particularly for Micro and Small Enterprises (MSEs) Lower working capital requirements, more affordable raw materials, and access to a wider market will provide a significant boost to small industries," it said. Laghu Udyog Bharati pledges its full support to the Government of India in ensuring the smooth and timely implementation of this reform. (ANI)
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