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Saving for a House ✌️【Part-Time Position】✌️₹500 to start, high returns to earn. Join now and watch your wealth increase!News on the Group of Ministers (GoM) onGSTrate rationalizationproposing a 35% GST slab for products like tobacco, tobacco products, and aerated drinks, along with creating sub-segmentations based on price points, has dampened economic sentiment in the country which is already grappling with declines in thestock market.The introduction of the35% GST slabcould have ripple effects on other sectors.
For example, products in luxury or indulgence categories, and non-essential goods with higherhealthor environmental burden like alcohol, processed foods and gaming, may face pressure for being included into the new slab.
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Saving for a House ✌️【Part-Time Position】✌️Smart investments start with ₹500. Grow your wealth with minimal risk!While the intent is to generate more revenue and promote public health, these changes could deter global investors from viewing India as a stable market.India’sGST collectionshave shown impressive growth in recent years.
Monthly GST revenues doubled between 2017-18 and 2023-24, reaching Rs 1.68 lakh crore, with an all-time high of Rs 2.10 lakh crore in April 2024.
Saving for a House ✌️【Part-Time Position】✌️Start with ₹500 and maximize your monthly earnings with high-yield investments.This success came after the government reduced the 28% GST slab from 224 items to 50 in 2017, simplifying the tax system for businesses.
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Given the current strength of GST collections, introducing a new 35% slab risks undoing these gains.The proposed fifth tax slab at 35% targets demerit goods, but it introduces unnecessary complexity into an already functioning GST structure.
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Saving for a House ✌️【Part-Time Position】✌️₹500 to start, high returns to earn. Join now and watch your wealth increase!Businesses, particularly SMEs, could face increased compliance costs as they struggle to navigate these new distinctions.
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