By Global Consultants Review Team
Union Finance Minister Nirmala Sitharaman announced that the newly introduced Next-Gen GST reforms will provide significant economic benefits to West Bengal. Speaking at the "Next Gen GST" event at the National Library Bhasha Bhawan in Kolkata, Sitharaman said the revised GST structure, implemented from September 22, has been designed keeping in mind the cultural and religious sentiments of Bengal. Initially planned for September 10, the rollout was delayed to coincide with Mahalaya and Navratri to ensure deeper public engagement.
A major highlight of the reform is the reduction of GST rates to 5% for Bengal’s iconic cultural and handicraft products. These include Santiniketan leather goods, Bankura terracotta, Madhurkathi mats, Purulia Chau masks, Dinajpur wood masks, processed mangoes from Malda, Darjeeling tea, and jute bags. Sitharaman said this move will directly benefit artisans and local producers, boosting their income and livelihood.
The Finance Minister emphasized that these reforms aim to support the middle class, farmers, and MSMEs. She hinted at the possibility of moving toward a single GST rate in the future. In a recent GST Council meeting held in Jaisalmer, some rate revisions were also made based on inputs from the Uttar Pradesh government to simplify compliance.
Sitharaman clarified that the GST Council operates with full consensus from all states, with the Centre holding one-third of the vote and opposition-led states holding two-thirds. She noted that several opposition states backed tax cuts and exemptions, particularly in healthcare.
Additionally, she announced that 90% of GST refunds will now be processed automatically, with only 10% of cases requiring scrutiny. Urging political unity, Sitharaman said the reforms are designed to benefit every citizen and accelerate economic growth across the country.
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