GST 2.0: Tax cuts on cement, daily-use items hailed

Patna: Welcoming Goods and Services Tax (GST) 2.0, the NDA members as well as Bihar industry leaders said on Thursday the reduced slabs will boost economy and provide big relief to common people.Bihar Industries Association (BIA) president K P S Keshri described the amendment as a progressive step that will significantly help in boosting the country’s industrial activities. The decision will make around 200 daily-use items cheaper, which will directly benefit the common people, he said, particularly emphasising the reduction of GST on cement from 28% to 18%. “This will greatly strengthen the construction and housing industries, providing a much-needed boost to the infrastructure and real estate sectors.

The BIA appreciates the fact that the government has positively considered the industry's recommendations,” he said.Union minister and former JD(U) chief Rajiv Ranjan alias Lalan Singh said Prime Minister Narendra Modi did what he said from the Red Fort on Aug 15. “The reduction of GST on fisheries and aquaculture sector has given a big relief to fishermen and fish exporters,” he said.Union minister and LJP (RV) president Chirag Paswan called it groundbreaking next-generation GST reforms, “which will herald a transformative chapter for Indian industry, igniting a path toward unparalleled economic dynamism”.

He said this reform will propel India toward a vibrant, self-reliant, and prosperous “Viksit Bharat”.Union minister and HAM(S) founder Jitan Ram manjhi also thanked PM Modi and finance minister Nirmala Sitharaman for the GST reforms.Deputy CM-cum-agriculture minister Vijay Kumar Sinha said the reduction in GST rates will provide direct economic benefits to the farmers. “Now, the burden of farmers has been reduced by cutting the GST rates on various machinery, equipment and specified bio-pesticides and micronutrients used in agriculture. This will reduce the cost of farming and help in increasing production,” Sinha said.Road construction minister Nitin Nabin described the new GST slabs a gift to the nation. The BJP leader said this reform will also empower workers and students.