Quick Summary
Finance Minister Nirmala Sitharaman has urged companies to pass on the benefits of reduced GST rates to consumers, while revealing that the government is working on a relief package for exporters impacted by US tariffs. In an interview, Sitharaman said that the GST reforms, rolled out on Prime Minister Narendra Modi's direction, were designed to benefit the common man, farmers and small businesses. She pointed out that several companies, including state-run insurers and a major automobile manuf
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FAQ :
Finance Minister Nirmala Sitharaman has urged companies to pass on the benefits of reduced GST rates to consumers.
The new GST rates come into effect from September 22, 2025.
The GST 2.0 reforms aim to simplify the tax structure, boost consumption, and drive economic growth.
GST rates have been reduced on 375 goods and services.
The Central Board of Indirect Taxes and Customs (CBIC) is monitoring price trends and may intervene if non-compliance is detected.
The government is working on a relief package for exporters impacted by US tariffs.
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