Rise in revenue collection after introduction of GST: Tripura CM

Agartala, Oct 9 (PTI) Tripura Chief Minister Manik Saha has said that revenue collection has gained significantly after the introduction of Goods and Services Tax (GST).

Speaking at a programme, the CM on Wednesday said the economic condition of both the country and the state has become stronger through the GST system, and revenue collection has shot up due to GST reforms.

Saha said previously, the people used to pay several taxes, but it was Prime Minister Narendra Modi who introduced the GST in line with one nation one tax, benefiting the people.

"Earlier, there were five stages in the GST structure. Now, it has been simplified into two slabs — 5 per cent and 18 per cent. This has benefited the common people greatly. GST is a people-friendly decision made keeping the welfare of the common man in mind. Under this system, people can save at least 4 per cent on their monthly expenses," he said.

"Various household products, including soap, shampoo, toothpaste, and bicycles, now attract only 5 per cent GST," he said.

This has provided major relief to common and middle-class families. Additionally, life insurance and health insurance have also been made GST-free. Due to the reduction in GST, life-saving medicines, medical equipment, diagnostic kits, and medical devices are now taxed at either zero or 5 per cent, Saha said.

Asserting that the farmers will also benefit from the GST reforms, the CM said tractors and rice harvesters now come under 5 per cent GST while the tax on cement purchases has been reduced from 28 to 18 per cent. PTI PS RG