After the central government cancelled the goods and service taxes on sanitary napkins, finance minister announced that there would be a deduction in the GST on products like cement and household appliances like TVs and Air Conditioners.
The finance minister took to social media to announce the positive effects of the tax. He claimed that 28% GST is charged only on items of luxury and there has been a deduction in the tax of 384 daily use products in the past year. He also claimed that all household products would soon see a steep decline in the taxes from 28% to 12%.
Mr. Jaitley analyzed that the rates of GST will decline when there is an increase in consumption and earnings on the taxes. He also took a dig at the UPA government who had in the past levied 31% tax on certain household and necessary products during their regime.