Congratulating millions of families across the country for the Next Generation GST reforms and 'GST Bachat Utsav', Modi said that the next-generation GST reforms will accelerate India's growth story.
With no GST on milk and cheese and the tax rate on butter and ghee reduced from 12 per cent to 5 per cent, the prices of these products will come down, which will boost demand and lead to higher growth in the dairy sector, benefiting farmers and livestock owners.
As taxpayers and businesses navigate the sweeping changes in the GST regime, here is a set of Frequently Asked Questions (FAQs) explaining the new GST rates, their applicability, and more.
In the revised changes, the GST exemption on ‘Pre Packaged’ and ‘labelled’ retail packs has been withdrawn but unlabeled and loose and unlabeled still remain exempted from GST.
