Recently the news came up regarding the amendments of GST, which results in a reduction of price for some commodities like refrigerator, coolers, Handicrafts and many more. Just after some hours new news was came up from the same segment. Now the news is that the Indian Government is planning to reduce the GST slabs.

In the present, it is 5, but the government is now preparing to reduce it to 3. The decision is primarily for the convenience of trader’s and consumers. The point of focus is that government is talking back to back decisions just before the Loksabha election of 2019. Now the question arises that, is it the move of BJP to attract voters towards it.

Reduction of GST slabs from 5-3 is lightened off by Sushil Modi who is Deputy Chief Minister of Bihar. He said that it would take some time to implement. Sushil Modi along with Deputy Chief Minister also heads the high-level committee on GST.

Statement of Sushil Modi

Bihar Deputy Chief Minister in an interview to PTI Bhasha said that in present GST is having 5 slabs but we are planning to reduce it to 3 for the convenience of traders and consumers. He added that this implementation would take some time because it is directly connected to state revenue.

In an interview he was asked about the question raised by P Chidambaram, the question was why the price of 88 commodities was not cutting off by GST council in the financial year 2017. On this question, Modi said, for a reduction in costs of commodities BJP is not the only one who takes a decision. Whole GST council and GST council made the decisions also consist of members from Congress.

He also stated that at the time of implementation of GST it was decided that, the rate should be determined in such a way so that no revenue loss may occur. Later on, the prices of many commodities were reduced after the stabilization of revenue.

By providing the data, Sushil Modi said, Rs 95000 crore was collected from the revenue of GST. It was a right amount which leads to a reduction in prices of many commodities.