Navratri
Navratri sales touch 10-year-high amid GST cuts: Official
An Indian government official said sales during Navratri touched a 10-year high, days after the GST cut was implemented by the Centre.
“By rationalising GST slabs and easing the tax burden on both essential and aspirational items, govt fostered an environment of confident spending," an official told The Times of India.
"As a result, brands and retailers reported sales growth ranging from 25% to 100%, marking a major boost for India’s consumption-driven economy," the official said.
The Indian government's GST 2.0 came into force from September 22 marking a major change in the tax rates across good and services.
Following the sweeping overhaul of the indirect tax system, the existing four-rate structure was replaced with just two slabs.
The long-anticipated rationalisation—seen as a relief for the middle class—abolishes the 12% and 28% categories, leaving only the 5% and 18% slabs.
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