00:00rationalization of course we've reduced the slabs there shall be only two slabs
00:05and we are addressing also the issues of compensation says ease of living simplifying
00:11registration return filing and refunds i'm not getting into greater details you'll get to know
00:16about it but then these reforms have been carried out with a focus on the common man
00:25every tax levied on common man's daily use items have gone through a rigorous looking into and in
00:34most cases the rates have come down drastically labor intensive industries have been given a
00:40good support farmers and agriculture as a whole will also benefit by the decisions we have taken
00:47today health related also will benefit so the key drivers of economy have been given a prominence
00:57just indicate karte huye i'll stop my input if uh revenue secretary has anything more he can add
01:09common man and middle class items may there there is a complete reduction
01:15uh reduction from 18 or from 12 to five percent i list out those items all of whom have come to
01:26five percent from either 18 or from 12 common man items such as hair oil toilet soap bars soap bars
01:36shampoos toothbrushes toothpaste bicycles tableware kitchenware and other household articles have all come
01:44to five whether they come to five whether they were in 18 or whether they were in 12. similarly
01:51reduction of gst from five percent to nil
01:55paan say zero majane wale items indicate kar raho
02:00ultra high temperature milk the uhd milk chena or paneer all the indian breads
02:08will see nil rate so roti kisi ke upar bhi chapati or roti or paratha or whatever it is
02:15they all come to nil reduction of gst from 12 percent or from 18 percent to five
02:23is
02:31noodles hai. Chocolates, coffee,
02:34preserved meat, cornflakes,
02:36butter, ghee, yeh sab
02:375% mein aarehi hai.
02:40Fir reduction
02:41from 28 to 18%.
02:44Is mein
02:45middle class ke aspirations
02:47meet karne wale baut saare cheez hai.
02:50Air conditions,
02:52air conditioning machines,
02:54TVs which are
02:55over 32 inches.
02:58All TVs now
02:59at 18%.
03:01I want to underline
03:03all TVs are
03:05now at 18%. Dishwashing
03:07machines, small cars,
03:10motorcycles, equal
03:11to or less than 350
03:13cc are all now
03:15coming to 18.
03:17Agriculture goods such as
03:19tractors, agricultural,
03:21horticultural and forestry
03:23machines for soil preparation
03:25or cultivation, harvesting
03:27or threshing machines, including
03:30straw or fodder balers, grass or
03:33hay movers, composting machines, etc.
03:36are all coming down from 12 to 5%.
03:40Reduction of GST from 12 to 5% on 12 specified biopesticides.
03:48Also from 12 to 5% on 12 to 5% is natural menthol.
03:54So kisaan ke liye unke products ke liye unke products ke liye unke products ke liye joh wo upyok kerte
03:59unke sab mein it has come down.
04:02Again from 12 to 5% on 12 to 5% on 12 to 5% on 12 to 5% on 12 to 5% on 12 to 5% on 12 to 5% on 12 to 5%.
04:05And also labor intensive sectors.
04:07What are they?
04:08What are they?
04:09Handicrafts, marble,
04:12travertine blocks,
04:14granite blocks,
04:16intermediate leather goods.
04:18E sab paanch me ari.
04:19Reduction of cement from 28 to 18.
04:26Because in the house, middle class ke liye cement is so abhisak hai.
04:31That's why 28, it has come down to 18.
04:35Health related items.
04:3833 life saving drugs and medicines.
04:44And they all come down from 12 to 0.
04:49From 5 to 0 and 3 life saving drugs and medicines used for treatment of cancer,
04:59rare diseases and other severe chronic diseases.
05:03There are several drugs and medicines coming down to 5 from 12.
05:07I am not listing each one of them out.
05:10Like that, very many other items, diagnostic kits, reagents, blood glucose monitoring system,
05:16all of them are coming to 5%.
05:18Similarly, spectacles and goggles are for correcting vision.
05:24They are also coming down to 5% from 28.
05:28If you all are interested in knowing about automotive sector,
05:32about which you have been frequently asking us.
05:35From 28 to 18%
05:38on small cars and motorcycles,
05:41which are equal to or below 350 cc.
05:45Reduction of GST from 28 to 18
05:47on buses, trucks and ambulances.
05:51Uniform rate of 18% on all auto parts.
05:58Irrespective of the HS code.
06:00Three wheelers from 28 to 18 again.
06:05So, I move to one very important thing on correction of inverted duty.
06:13The long-pending inverted duty structure problem is getting corrected
06:20for the man-made textile sector
06:23by reducing GST rate on man-made fiber from 18% to 5%
06:30and man-made yarn from 12 to 5%.
06:34So, that will take care of every anomaly that was there in terms of inversion
06:38that's getting sorted out.
06:40So, this actually gives effect
06:44to government's objective of the fiber-neutral policy.
06:50So, that's really getting seen in our action today.
06:54We are also correcting the inverted duty structure problem
06:57in fertilizer sector
07:00by reducing GST from 18% to 5%
07:05on sulfuric acid, nitric acid and ammonia
07:08which are very important for the fertilizer sector.
07:12Renewable energy is the next.
07:14Reduction of GST from 12 to 5%
07:17on renewable energy devices
07:20parts for their manufacture
07:23such as biogas plant, windmills,
07:27wind-operated electricity generator,
07:30waste-to-energy plants, devices,
07:34PV cells,
07:35whether or not assembled in modules
07:37or made-up in panel,
07:39solar cookers,
07:40solar water heaters
07:42and systems and so on.
07:45That there is a special rate
07:46which is 40%.
07:47Actually, almost all goods
07:51are between 18% and 5%.
07:53If there is any change,
07:54they only can shuffle between the 18% and 5%.
07:57There is one special rate
07:59which is only for sin
08:00and super-luxury goods.
08:03That special rate of 40%
08:05has also been proposed
08:06and it's cleared.
08:07That will apply only to
08:09paan masala, cigarettes, gutka
08:13and other tobacco products
08:14such as chewing tobacco,
08:17products like zarda,
08:19unmanufactured tobacco and BD.
08:21All goods including
08:24aerated waters
08:26containing added sugar
08:28or other sweetening matter
08:31or flavoured
08:32caffeinated beverages,
08:35carbonated beverages
08:36of fruit drink
08:38or carbonated beverages
08:40with fruit juice
08:41and other non-alcoholic beverages
08:45excluding those specified
08:48at lower rates
08:49will all be covered
08:50under 40%.
08:51Mid-size and large cars,
08:55motorcycles of engine capacity
08:57exceeding 350cc,
09:00aircraft, for example,
09:02helicopters and aeroplanes
09:04for personal use,
09:06distinctly for personal use,
09:09yacht and other vessels
09:10for pleasure or sports
09:12are all under 40%.
09:14Insurance services
09:16from 18% currently
09:19will go into
09:21two, three different categories.
09:23I'll say that to you.
09:24Exemption of GST
09:26on all individual life
09:29insurance policies.
09:32Whether term life,
09:34ULIP
09:35or endowment policies
09:37and reinsurance thereof
09:39to make insurance affordable
09:41for common man
09:43and increase the insurance coverage
09:45in the country.
09:47Exemption of GST
09:49on all individual
09:50health insurance policies
09:52including family floater policies
09:55and policies for senior citizens
09:58and reinsurance thereof
10:00to make insurance affordable
10:02for the common man
10:04and increase the insurance coverage
10:05in the country.
10:07Masala, tobacco
10:09and everything else
10:10under the GST
10:12till such a time
10:13the loan is repaid
10:15as I said
10:15the 28%
10:16plus the compensation
10:17says will run
10:18once I clear the loan
10:20they all come to 40%
10:21and that's
10:22that's what is the GST.
10:24All this will be
10:26effective
10:2622nd September
10:282025
10:29which is the first
10:31day of Navaratri.
10:34The changes
10:35in GST rates
10:37of all goods
10:38except for
10:39paan masala
10:40gutka
10:41cigarettes
10:42chewing tobacco
10:43products like
10:44zarda
10:45and manufactured
10:46tobacco
10:46BD
10:47will be
10:49implemented
10:50with effect
10:51from 22nd
10:52September
10:532025
10:53except for
10:55these
10:56for all items
10:58the new rates
10:58will come into effect
10:59from 22nd
11:00September
11:01I hope I'm clear
11:02on that
11:02but
11:04paan masala
11:05gutka
11:06cigarettes
11:08chewing tobacco
11:09products like
11:10zarda
11:10unmanufactured
11:12tobacco
11:12and BD
11:13will continue
11:14at the existing
11:15rates
11:16of GST
11:18and
11:19compensation
11:20says
11:20where applicable
11:21till
11:23the loan
11:24and interest
11:24payment
11:25obligations
11:26under the
11:27compensation
11:28says
11:28account
11:29are completely
11:30discharged
11:31I hope I'm
11:33clear
11:33every item
11:35will come
11:36under the
11:36new rate
11:37from 22nd
11:39September
11:40except for
11:41these
11:41tobacco
11:42tobacco
11:42related
11:43products
11:43which will
11:45continue
11:45on the
11:4628%
11:47and
11:47compensation
11:48says
11:48where
11:48applicable
11:49till
11:50such a
11:50time
11:51we
11:51completely
11:52repay
11:53the loan
11:54based on
11:59this
11:59decision
12:01of this
12:01set of
12:03tobacco
12:03products
12:04continuing
12:04till
12:05some
12:05time
12:05based on
12:07that
12:07decision
12:07the
12:09union
12:09finance
12:10minister
12:10and the
12:10chairperson
12:11of the
12:11GST
12:11council
12:12is
12:13actually
12:14authorized
12:14to decide
12:15on the
12:16date
12:16actual
12:17date
12:17of
12:17transition
12:18for
12:19these
12:19tobacco
12:19related
12:20products
12:21as soon
12:22as the
12:22loan
12:24and interest
12:25is cleared
12:25to look
12:28at the
12:28GST
12:29council
12:29as
12:30where
12:31the
12:31centre
12:32and the
12:32states
12:32are seated
12:33together
12:34I mentioned
12:36this in the
12:36council
12:36also
12:37the centre
12:39may be a
12:39one third
12:39partner
12:40the states
12:41put together
12:41can be
12:42two thirds
12:42partner
12:43but we
12:44are all
12:44in it
12:45together
12:45so
12:48anything
12:48that which
12:49is gained
12:50or lost
12:50is for
12:51everybody
12:52it's not
12:54as of
12:54states
12:54have lost
12:55the
12:57centre
12:57is not
12:57gained
12:58if all
13:00of us
13:00have lost
13:01all of us
13:01have lost
13:02and I
13:04don't
13:04think
13:04and I'm
13:05glad that
13:06the
13:06revenue
13:06secretary
13:06had made
13:07this point
13:07in the
13:08council
13:08it's a
13:10revenue
13:10instance
13:11the
13:12incidence
13:12is what
13:13is the
13:13matter
13:14it's
13:16not a
13:17static
13:17situation
13:18once the
13:18rates
13:19have come
13:19down
13:19per
13:20the
13:20economic
13:20theory
13:21that you
13:21may want
13:22to quote
13:22the
13:23buoyancy
13:24goes up
13:24people come
13:25out to
13:25buy more
13:25and therefore
13:27this discussion
13:29has happened
13:29in today's
13:30council
13:31and I
13:32have put
13:33this argument
13:34before
13:34that the
13:36centre
13:36and the
13:37states
13:37are seated
13:38equally
13:38and any
13:41gain or
13:42any foregone
13:43none of that
13:43is perceived
13:44because when
13:45rates are
13:45coming down
13:46we expect
13:47we expect
13:47the
13:47market
13:48to be
13:49more
13:49buoyant
13:50people
13:50to come
13:50out in
13:51and spend
13:52more
13:53however
13:54all of us
13:55are sitting
13:55there
13:55together
13:56compensate
13:58for states
13:59loss
13:59even centres
14:00losing
14:00if anything
14:01centre loses
14:03more in a
14:03way
14:04because 50
14:0650 you
14:06divide from
14:07my 50
14:08another 41
14:08goes back
14:09to the
14:09states
14:10so I
14:11want
14:12the media
14:13particularly
14:14those who
14:14are covering
14:15the economy
14:16finance
14:18ministry
14:18to understand
14:19in the
14:20GST
14:20council
14:21the centre
14:21and the
14:22states
14:22are together
14:23in it
14:24nobody is a
14:26donor and
14:26nobody is a
14:27donee
14:27within the
14:28GST
14:29council
14:29the tariff
14:33turmoil is
14:34not a
14:35matter which
14:35influenced
14:36the GST
14:37reform
14:38because we
14:39have been at
14:40it now for
14:40more than
14:41one and a
14:41half years
14:42some group
14:43of ministers
14:44was working
14:45on rate
14:46rationalisation
14:47some other
14:48group of
14:48ministers a bit
14:49later was
14:50working on
14:50insurance
14:51and so on
14:53and compensation
14:54says it was a
14:54reality that it
14:55is going to end
14:56the moment you
14:58paid back the
14:58loan
14:59none of this
15:00has anything to
15:00do with the
15:01tariffs
15:01so no
15:04there's nothing
15:04to do with the
15:05tariffs at all
15:05one
15:07second
15:08you were
15:10talking about
15:11petrol
15:11diesel
15:11eight states
15:13none of that
15:13was subject
15:14of our
15:14discussion
15:15because that
15:15is not part
15:16of the
15:16GST council
15:17at all
15:18and the
15:19third
15:20numbers are
15:23being thrown
15:23around
15:24this much
15:25loss
15:26that much
15:26loss
15:27you've just
15:28heard the
15:28revenue
15:29secretary
15:29detail
15:30on the
15:32basis of
15:332324
15:33numbers
15:34am I
15:35right
15:352324
15:36data which
15:38is the
15:38last available
15:39for all
15:39the
15:40categories
15:40and he
15:41stated what
15:42is the
15:42net
15:43amount
15:45that we
15:46have to
15:46be looking
15:47at
15:47so there
15:48is nothing
15:49more
15:49I'm not
15:50going to
15:50join forces
15:51to argue
15:52on oh
15:53somebody said
15:53this much
15:54somebody else
15:54said said
15:55that much
15:56our data
15:56is here
15:57we put
15:57it and
15:58that is
15:58coming out
15:59to all
15:59of you
15:59as well
16:00in the
16:00press
16:00note
16:01can
16:30The Congress Party wants us to give it 5%? I don't understand that the Congress Party will not be able to get the GST to do it because the state government didn't have trust.
16:50They will not be able to compensate, they will be able to give some assurance.
16:57The UPA government didn't have trust in state governments.
17:03That's why they didn't have trust.
17:05We have also had trust in Modi ji and second generation reforms.
17:12They will also have trust in their day-to-day items.
17:18They will also have trust in MSME and Labor Intensive units.
17:22They will also have trust in EC compliance and the rate will also be reduced.
17:26The Congress Party, I will say, what kind of words do I do?
17:33They will be prepared for their mind.
17:37They will oppose that they will give a trust.
17:39The good sense of what is in the people's point of the error,
17:42they will not remain in confusion in your mind.
17:45But now they will answer the correct answer.
17:50Because when they are cutting the rate,
17:55they will be upset and they will be confused in their mind.
18:00you Jantta ke mann me Jantta
18:02aaj aapke gumraa wale
18:04kamme aapke saath nai
18:06aapko expose karengue
18:09Jantta
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