The GST Bachat Utsav began on the 22nd of September as the Narendra Modi government slashed GST rates in many sectors, benefitting citizens across the country.
GST reforms are boosting the economy of Andhra Pradesh.
The next-generation GST reforms are providing significant relief across various sectors in Andhra Pradesh. Under the new tax structure, the GST rate on fish oils, extracts, preserved products, fishing gear, and diesel engines has been reduced to 5 per cent.
This decision is easing the tax burden on small processors and boosting the coastal economy. In GST 2.0, the government has also reduced GST on niche products such as Araku Coffee, Leather Puppetry, and Stone Carvings. After the next-gen GST reforms, these items now attract only 5 per cent GST from the previous 12 per cent.
This will enhance domestic livelihoods and promote exports of the state. The government has also reduced the GST on three-wheelers, small cars, and motorcycles with engine capacities up to 350cc.
These items have been brought down to 18 per cent, making automobiles more affordable for consumers and stimulating the export of auto parts. These changes are lowering costs, boosting demand and strengthening the export potential of the state while easing the burden on households.
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