The decision is expected to benefit the middle class, which usually makes automobile purchases during the Diwali season, to avail the special discount offers provided by automakers around this time.
The GST council rolled out these revised tax rates on 3rd September. These reduced rates, however, will not be applicable to road tractors for semi-trailers with an engine capacity of more than 1800 cc.
The GST Council has removed tax on essential stationery items like pencils, erasers, notebooks, maps, and globes. Earlier taxed at 12% or 5%, these items will now be completely tax-free.
Under the GST reforms, the prices of food items and everyday essentials will be reduced significantly. For example, ready-made frozen parathas, chapatis, khakhra, pizza bread, and paneer will not be taxed.
"For us, reform means the expansion of good governance," said the Prime Minister, emphasising that continuous focus is being placed on reforms. He made the marks during the inauguration ceremony of two major National Highway projects worth a combined cost of nearly Rs.11,000 crore in the national capital.
This notably is the first relief for the journalist who is facing criminal charges filed against him at the DCB police station in Ahmedabad. However, he would continue to stay in jail as he is facing charges in 5 more cases relating to tax evasion.