PM’s GST Diwali bonanza timely, strategic move: Experts

NEW DELHI: The announcement by Prime Minister Narendra Modi regarding GST 2.0 is a timely and strategic move to build a resilient Indian economy, according to experts.

From the ramparts of the historic Red Fort, Modi announced that the GST rates will be lowered by Diwali, bringing down prices of everyday use items, as his government looks to reform the eight-year-old tax regime that has been plagued by litigation and evasions.

Later, the Finance Ministry said it has proposed that most goods and services be taxed in two slabs – standard and merit – and a select few items be charged special rates.