News India Live, Digital Desk: Whenever the government takes a decision related to tax, everyone wants to know what will have a direct effect on its pocket. Recently, the GST Council has reduced tax on many things. This decision has come up with great relief for the three largest sections of the society – common man, students and farmers, not only for some companies.
Let us understand in very easy language, who is getting the real advantage of this GST cut and how.
1. Relief for the common man (The Common Man’s Gain)
For the common people like us and you, this decision is directly relieving inflation.
- Carton boxes will be cheap: It seems small to hear, but its effect is very big. Whatever items you order online or whatever packed things you buy from the market comes in a cardboard box. The tax on these coaches is reduced from 18% to 5%. This means that now the packaging of the goods will be cheaper, the effect of which can also be seen at the price of the product.
- Low tax on solar cooker: There is good news for those who are aware of the environment and want to get rid of traditional fuel. The solar cooker will now have only 5% GST, which will make it cheaper than before.
- Relief on flavored drinks: The GST has also decreased on the carbonated drinks with ared fruit drinks or flavored, which will reduce their prices.
2. What is the benefit for students? (The Student’s Gain)
There is no discount on things like stationery directly, but students will benefit from other ways.
- Less expenses to stay out: Students who live in hostels or rented rooms away from home are quite limited to their month’s budget. When packaged food, beverages and other needs are cheaper, their month’s expenses will also be less.
- Family burden will decrease: Many students bear the expenses of their families. When the budget of the house kitchen will be low and less money is spent on everyday things, then it will be a little easier for the family to bear the expenses of the child’s education.
3. The biggest relief for farmers (The Farmer’s Gain)
The farmers of the country seem to be getting the highest and direct benefit of this GST cut.
- Irrigation will be cheap: Irrigation in farming is a big expense. The government has reduced GST from 12% to 5% on all types of sprinkler and drip irrigation systems. This will make it cheaper and easy for farmers to adopt new irrigation technology.
- Relief on fertilizer: The cost of farming is a large part of manure and fertilizer. The government has also given direct relief to the farmers by reducing tax on these.
- Benefits in poultry and milk business: Taxes on the steel and aluminum cans have also decreased on the parts of the machines used in the poultry. This will reduce the cost of farmers associated with poultry and dairy business and increase profits.
Overall, this GST reform of the government is not just to improve the economy figures, but is an attempt to benefit every section of the country at the ground level.
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