'Household Use Goods Became Cheaper With GST': PM Modi; Finance Minister Sitharaman Vows To Make Compliance Easier

Prime Minister Narendra Modi on Monday (24 June) shared a news clipping suggesting that households emerged as the top beneficiaries in seven years since the implementation of the Goods and Services Tax (GST).

"After the introduction of GST, goods for household use have become much cheaper. This has resulted in significant savings for the poor and common man. We are committed to continuing this journey of reforms to transform people's lives," Modi said.

As per the Business Standard, the GST has been able to reduce taxes on several products and services used by the common people including food items and other household products.

The Central Board of Indirect Taxes and Customs (CBIC) data suggests that flour, curd and buttermilk and honey became cheaper among food items while cosmetics, detergent, hair oil, soap and toothpaste are other household products with reduced tax.

Electric and electronic appliances including, fans, water coolers, televisions and refrigerators also became cheaper while mobile phones, furniture and LPG stove have also come under a lesser tax bracket.

Finance Minister Nirmala Sitharaman reiterated that the Modi government's intent is to make GST assessees’ lives easier and the government working towards lesser compliance during the GST Council meeting on Saturday.