GST Council Approves Rate Rationalisation; Focus on Common Man and Education Sector

On this Independence Day from the ramparts of Red Fort, Prime Minister Narendra Modi announced the Next Generation of GST reforms by Diwali. The Prime Minister’s vision of creating a more efficient and citizen-friendly economy was realised as the GST Council on the 3rd of this month approved rates rationalisation with a focus on the common man.
 
 
The Council has simplified the indirect tax system into a two-tier structure of 5 per cent and 18 per cent from a four-tier structure of 5 per cent, 12 per cent, 18 per cent and 28 per cent. These reforms have reduced tax rates in many sectors, easing the lives of citizens. Today, we look at­ the reforms undertaken for the education sector. Our correspondent reports that the GST reforms have been carried out with a focus on the common man and will come into effect from the 22nd of this month.