Get relief from inflation? In the Finance Minister’s meeting, there can be 3 big announcements for the common man today:

News India Live, Digital Desk: GST Update Today: The day of the biggest decisions related to the country’s economy and your pocket has come. A two -day important meeting of the GST Council is starting from today under the chairmanship of Finance Minister Nirmala Sitharaman. The eyes of the whole country are on this meeting, because it is believed that there may be important decisions on many important things of daily use and major changes in the entire structure of GST.

The biggest agenda of this meeting is to give relief to the common man from inflation and make the tax system more simplified. Let us know which big issues are expected to be discussed in this meeting.

1. What will be cheaper everyday goods?

According to sources, a proposal to reduce GST rates on many important items can come in this meeting. To control inflation, the government can consider reducing GST from 28% to 18% on things like cement, steel and some auto parts. If this happens, it can be a little cheaper to build a house and buy a car. Apart from this, it can be recommended to reduce tax on some food and drink products and agricultural products.

2. The biggest change in tax slab so far?

This can be the largest and revolutionary decision since the GST is implemented. For a long time, there has been talk of reducing the existing 4 slabs (5%, 12%, 18%, 28%) of GST to 2 or 3 slabs. According to the news, in this meeting 2-Salab Tax Structure But there can be serious discussion. This would mean that most of the things will either come at the lower rate or at a high rate. This change will directly affect the prices of every small and big thing and the entire tax system of the country will change.

3. Online gaming will also be monitored

Last year, 28% GST on online gaming will also be reviewed in this meeting. The gaming industry is constantly demanding to reduce this tax. It will be important to see if the government gives any relief to this industry or not.

What will be the effect on the common man?

If the council decides to reduce tax, then the common man will definitely get some relief from inflation. At the same time, the effect of change in tax slab will be far -reaching, due to which some things can be permanently cheap or expensive. The country has great expectations from this meeting starting today. The entire picture of the decisions will be cleared only after the meeting is over.