By Navhind Times

Copyright navhindtimes

NT Reporter

Chief Minister Pramod Sawant on Monday said the reduction in prices of the number of consumer products due to the implementation of goods and services tax (GST) 2.0 would not result in losses to the sellers including shopkeepers, as they would receive refund related to the difference between the old and the new MRP on goods which are already on the shelf.

“Furthermore, the reduction in prices of goods would automatically result in higher sales of these goods, and this in turn would result in making up of the difference between the old and new prices of goods” Sawant, who is a member of the GST Council, told ‘The Navhind Times’.

He reckoned that “a buyer of a two-wheeler could opt to purchase a four-wheeler, or say, now a family could purchase large-sized television set, instead of a smaller one.”

The new tax reforms became applicable throughout the country from September 22 as recommended by the GST Council at its meeting, earlier this month.

The Chief Minister, who also handles finance portfolio, visited various shops along the 18th June Road in the city on Monday evening, and discussed the new GST rates with
shopkeepers.

Many of the shopkeepers were unclear as to how would GST 2.0 apply to products already on shelf with MRP under old GST.

The Chief Minister said there will now be only two slabs of the particular tax, that is 5 per cent slab and 18 per cent slab, due to which an atmosphere of happiness has been generated all around, with the common man ready to enjoy the benefits of the particular decision of the Narendra Modi government.

Sawant also admitted that a few of the shopkeepers have some confusion in their mind about the modalities pertaining to the GST 2.0 implementation.

“However, many of their doubts would be cleared within next two days,” he assured, adding that the shopkeepers need to understand the reduction in the prices of different products and charge the same from their customers.

The Chief Minister said the government has already ensured all assistance from the GST commissioner and his office to the business community in the state.

Earlier, in his social media post, Sawant said Prime Minister Narendra Modi urged states to strengthen the ecosystem for micro, small and medium enterprises, build infrastructure to attract investment and enhance manufacturing competitiveness with the vision of ‘Vocal for Local, Think Global’.

“Goa is fully committed to this mission — modernising infrastructure, simplifying processes and empowering our entrepreneurs so that Swadeshi products shine proudly in India and across the globe,” he said.

The Chief Minister said the new measures unveiled under the guiding vision of ‘Nagarik Devo Bhava’ mark the beginning of the ‘GST Bachat Utsav’.

“The road to Viksit Bharat is paved with Swadeshi. Through consistent reforms like GST, IBC, Atmanirbhar Bharat Abhiyan and PLI, India has powered its journey from ‘Make in India’ to ‘Make for the World’,” the Chief Minister remarked.