GST reform fruits
News Kashmir Analysis
In a great development for the people,Goods and Services Tax (GST) reforms have started to provide major relief to the common citizens while improving India’s business and investment atmosphere.
In this regard,the GST reforms, which came into effect on September 22, 2025, are being considered a major change for India’s 64 million micro, small, and medium enterprises. Experts say that this reform has not only simplified the tax structure but also opened the way for increasing the competitiveness of small industries
India’s consumer economy has achieved its highest Navratri sales in over a decade, a surge attributed to the Modi government’s NextGen GST reforms, which reduced tax rates and increased product accessibility. These measures lowered prices and unlocked consumer spending, leading to upgrades of vehicles, investments in home appliances, and increased spending on lifestyle goods.
Brands and retailers across sectors reported significant sales growth, generally ranging from 25 per cent to 100 per cent. The festive season’s first half, including Onam, Durga Puja, and Dussehra, is the country’s largest consumption period, accounting for 40-45 per cent of total festive sales.
In our region, The Government of Jammu and Kashmir has commenced the implementation of Next Generation GST Reforms 2.0, effective from September 22, 2025, aligning with the national tax rationalization drive and reinforcing its commitment to consumer welfare.
The overhaul simplifies the GST framework by reducing multiple tax slabs to just two primary rates—5 per cent for essentials and 18 per cent for most other goods and services. These measures are poised to lower the cost burden on households, insurance, medicines, education, and key livelihood sectors, said an official statement.
Importantly,recently Union Home Minister and Minister of Cooperation, Shri Amit Shah, has said that the Modi government has gifted NEXTGen GST reforms to all the mothers and sisters of the country on the auspicious occasion of Navratri.
In a series of posts on X platform, Union Home Minister and Minister of Cooperation said, on the auspicious occasion of Navratri, the Modi government presents the gift of NEXTGen GST reforms to all the mothers and sisters of the country! The promise of GST reforms made by Modi ji to the people of the country has been implemented across the nation starting today. This GST reform includes a historic reduction in taxes on over 390 items. Unprecedented relief in GST on sectors such as food and household items, home building materials, automobiles, agriculture, services, toys, sports, handicrafts, education, healthcare, and insurance will bring joy to the lives of the people and increase their savings.
