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PM said- We reform GST, simplified taxation. It started its review after 8 years. Now Next Generation is bringing GST reforms.
On the occasion of Independence Day, PM Modi has made 2 announcements from the Red Fort. The PM has launched the Pradhan Mantri Developed India Employment Scheme. Also said to bring GST Reform Scheme that reduced tax till Diwali.
PM Modi said- ‘Today I have also brought good news for you. On August 15, the Prime Minister of Rs 1 lakh crore is being launched for the youth of my country, Developed India Employment Scheme. This will provide employment to three and a half crore youth.
Modi said in his address- A big gift is going to be received in Diwali. Reform GST, simplified taxation. It started its review after 8 years. We are bringing Next Generation GST Reforms. Will reduce tax for ordinary people, everyday things will become cheaper, people will benefit greatly.
12% GST items can enter slabs with 5%
A month ago, it was reported that the prices of items used for common man such as toothpastes, utensils, clothes, shoes may decrease, as the government is preparing to give relief by cutting the midal-class and lower-incoured family by cutting Goods and Services Tax.
According to reports, the government can bring 12% GST slab completely eliminate or currently 12% tax items into 5% slab. This restructuring will include the items coming in the use of middle-class and economically veir section. Currently GST has four slabs of 5%, 12%, 18% and 28%.
GST was implemented in 2017
The government implemented GST across the country on 1 July 2017. After this, 17 taxes and 13 centers of the central and state governments were removed. On the completion of 7 years of GST, the Finance Ministry posted with the achievements achieved during the last seven years.
GST is an indirect tax. It was implemented in 2017 to replace many types of indirect tax like VAT, service tax, purchase tax, excise duty. The GST has four slabs of 5, 12, 18 and 28%.
GST is divided into four parts:
- CGST (Central GST): It is collected by the central government.
- SGST (State GST): It is collected by state governments.
- IGST (Integrated GST): Applied to interstate transactions and imports, divided between the central and state governments.
- Cess: Additional fees levied on specific goods (eg, luxury items, tobacco) to raise funds for specific purpose.
Economy’s health shows GST collection
GST collection is an important indicator of Economic Health. Higher collections indicate strong consumer expenses, industrial activity and effective tax compliance.
Businesses often clear the transactions from March to the end of the year in April, increasing tax filings and collections. KPMG’s National Head Abhishek Jain said that the highest GST collection so far reflects a strong domestic economy.
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GST collection of ₹ 1.96 lakh crore in July: 7.5% compared to last year; In June, ₹ 1.85 lakh crore was raised from GST
The government has raised Rs 1.96 lakh crore from Goods and Services Tax (GST) in July 2025. It has increased by 7.5% on an annual basis. According to the data released on Friday 1 August, in July 2024, the government collected Rs 1.82 lakh crore GST in July 2024.
The collection of July has increased by 11 thousand crores as compared to June this year. In June, Rs 1.85 lakh crore GST was charged. Earlier in April 2025, a record of Rs 2.37 lakh crore and 2.01 lakh crore rupees were raised as GST in May.
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