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GST is Designed to be Fair, Non-Discriminatory and Pro-Poor: Finance Minister Nirmala Sitharaman

GST is Designed to be Fair, Non-Discriminatory and Pro-Poor: Finance Minister Nirmala Sitharaman

Speaking in the Lok Sabha, Finance Minister Nirmala Sitharaman talked about GST (Goods and Services Tax), saying that it is designed to be fair and simple for everyone. She said GST is an indirect tax, which means people are taxed based on what they consume, rather than who they are. The system treats all the individuals equally.

To protect poor and middle-class families, the government has kept essential items completely free from GST. This includes daily-use goods like wheat, pulses, atta, fruits, vegetables, milk, and eggs, which are not taxed at all. These are basic goods, so removing tax on them helps reduce the burden on common people.

She also pointed out that some important items like tea, sugar, edible oils, and affordable clothing are taxed at a very low rate of just 5%, making them affordable for the common individuals.

She said that the differential taxation based on income at the point of purchase is neither practical nor implementable. Instead, GST focuses on giving relief on essential goods.

GST is designed to be fair, non-discriminatory and pro-poor,” Sitharaman said.

Nidhi
Nidhi
Nidhi is a Bachelor of Commerce student from Delhi University. As a content writer at Finvestment, I specialize in crafting insightful and engaging financial content Related to Mutual Funds, Stocks, Personal Tax, Insurance Etc...