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New Delhi, Sep 22 (PTI) The reduced GST rates on a wide array of items have ignited a "wave of happiness" among people, the BJP said on Monday and cited the higher tax rates on same products during the Congress-led government to slam its criticism of the GST reforms.
Hitting back at the Congress for its "Gabbar Singh Tax" barb at the GST, Union minister and BJP leader Ashwini Vaishnaw cited the prevalence of much higher rates during its government to wonder if such hugh taxation was like "Gabbar Singh ke bade dada" (the grandfather of Gabbar Singh).
Giving examples, he said the tax rates on cement, sanitary pad, paint, footwear, TV and fridge during the Congress-led UPA rule were 30, 13, 30, 18, 30 and 30 per cent respectively.
The corresponding rates now are 18, 0, 19, 8, 18 and 18 per cent, he told reporters, asserting that the reduced costs has led to a "saving festival" and sparked a wave of happiness.
In a swipe at the Opposition, he said its unhappiness with the GST and the current reforms is "natural" because all it did was talk and no action when it was in power.
Vaishnaw, who had visited the RK Puram market earlier to see the mood among shoppers and traders, said reports from every corner about its impact is good.
The business sector has passed on the tax cut benefits to consumers, he said. He, however, added that the government is keeping a vigil and will take strict action in case of consumers being not given the benefits. PTI KR PK DV DV DV
Reduced GST rates spurred consumer savings, with government monitoring to ensure tax-cut pass-through and market compliance. Reduction of GST rates on a range of consumer goods has produced price relief and consumer savings; specific product categories were shifted from earlier higher taxation to lower rate bands. The government emphasises market sentiment improvements and commits to regulatory oversight to ensure pass-through of tax cuts to end consumers, warning of enforcement action where businesses do not transfer benefits.Press 'Enter' after typing page number.