Prime Minister Narendra Modi on Tuesday said the government is aiming to bring 99 per cent of items below the 18 per cent GST slab and warned of stringent action against defaulters of bank loan and fugitives.
“Before GST, registered enterprises numbered 65 lakh, which has now increased by 55 lakh. Today, the GST system has been established to a large extent and we are working towards a position where 99 per cent items can be brought in the sub-18 per cent slab,” Modi said, addressing the Republic Summit in Mumbai.
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“Today, the GST system has been established to a large extent and we are working towards a position where 99 per cent things will attract the sub-18 per cent GST slab,” Modi said.
Modi indicated that the 28 per cent slab of GST would only be restricted to a few select items, such as luxury goods.
“All things related to common man will be 18 per cfent or below that.
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This means cement, marble, air conditioners and such items which mean a lot to consumers across the Northeast will become cheaper.