Finance Minister Nirmala Sitharaman on Wednesday (September 17) said that the GST reforms will bring ₹2 lakh crore into the hands of the common man.

Addressing a gathering in Visakhapatnam, Ms. Sitharaman added that the GST Council decision aims to reduce the tax burden on consumers and improve liquidity in the economy.

The Goods and Services Tax (GST) is the only tax applicable to every citizen of the country. Therefore, the Central Government has come up with new reforms in the name of GST 2.0 to further simplify the current complex GST system, she said.

Every tax on daily necessities has been rigorously reviewed and in many cases, the rates have been reduced significantly in the new GST 2.0, which will be effective from September 22, she said while addressing an outreach programme

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