00:00In the Union Budget 2025, the government gave a lot of relief to the middle class in income
00:06tax.
00:07Now, after that, the government is preparing to give a lot of relief in GST rates as well.
00:11Yes, GST rates are going to decrease and Finance Minister Nirmala Sitharaman herself has indicated
00:16this.
00:17The Finance Minister said that the task of making the Goods and Services Tax Rate and
00:20SLAB a joint venture is almost in the last phase and a decision will be taken to reduce
00:26rates soon.
00:27So what is the full detail, let's know in the video.
00:30Nirmala Sitharaman, answering a question, said that the task of making GST rates and
00:34SLAB a joint venture is almost in the last phase.
00:38She said that Rajasthitratasthitra, i.e. R&R, decreased from 15.8% at the beginning of GST
00:44on July 1, 2017 to 11.4% in 2023 and now there will be even more reduction in it.
00:52The GST Council, headed by the Finance Minister, has decided to make rates a joint venture
00:58and to suggest a change in SLAB, a group of ministers, i.e. GOM, was formed.
01:04The Finance Minister said that GOM has done a great job, but now in this phase, I have
01:09once again taken up the burden of fully assessing the work of each group and then maybe I will
01:16take it to the judge.
01:18Then it will be considered whether we reach the final conclusion about this or not.
01:23Nirmala Sitharaman said that there is a need to do something else to make the doors a logic
01:28She said that we will take it to the next council meeting.
01:31We are very close to taking the final decision on some very important issues such as making
01:35a logic association in the doors, thinking about the number of SLABs, etc.
01:40In fact, there is a pressure on the government to increase demand and consumption, for which
01:44the GST Council is now considering reducing GST rates.
01:49It is believed that the government can reduce the GST rate of 12% SLAB.
01:54And the goods that come in this SLAB can be put in an 18% SLAB if 5% is required.
02:00The purpose of this agreement is to make the GST rate structure a logic association as
02:05well as to increase consumption.
02:07In fact, demand has been rising for a long time to change the GST SLAB and make the doors
02:12logical.
02:13Now there are four SLABs of tax under GST, i.e. 5%, 12%, 18% and 28%.
02:20There is also a demand for SES on some luxury and SIN items.
02:24The demand for reducing the number of GST SLABs from 4 to 3 has been rising.
02:29Now Finance Minister Nirmala Sitharaman herself has indicated that the GST rates can be reduced
02:35and the rate at which it was reduced from 15.8% to 11.4% can be reduced even more.
02:42The government says that their goal is to make the GST system even easier, reduce the
02:47tax burden and give relief to the taxpayer.
02:50You have seen how 12 lakhs of income has been tax-free in the union budget and now the next
02:57big relief can be given with GST.
03:00What do you think can be changed?
03:02Do tell us by commenting.
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