? Cool Title, but what’s the news?
Prime Minister Narendra Modi ruled out a single Goods and Services Tax (GST) rate and slammed Congress for suggesting a single rate which would make commonly used food items more expensive.
? Okay, but what does it mean?
It would have been very simple to have just one slab but it would have meant we could not have food items at 0% tax rate. “Can we have milk and Mercedes at the same rate?” Modi asked in an interview to ‘Swarajya’ magazine.
? Why should I care?
Because GST in India has just completed 1 year. And while this one year journey has been a journey of evolution. For you personally, GST will see some hopefully good reforms and amendments in the coming months in lieu of the coming elections. Lower GST on more items, maybe? We’ll find out!