GST New Rates | Govt Announces GST Reform As Pre-diwali Gift For Citizens

Many are calling it a pre-Diwali gift from the government. With a positive outlook, they believe these benefits will directly reach every household, helping individuals save money through this reform. From the insurance sector, it was explained that until September 22, people paying their premiums will continue to pay GST-inclusive amounts. But after September 22, individuals will directly save 18% on their insurance premiums, as the GST component has been reduced to 0%. For example, someone paying a premium of ₹1 lakh will now save ₹18,000, a significant relief for common citizens insuring themselves or their families. Representatives from the hospitality sector said that since they rely heavily on the consumption and purchase of dairy products, the reduced GST on these items will allow them to serve customers better, and possibly at lower prices. People across sectors welcomed the decision, calling it a much-needed step finally taken by the government. They believe this marks the beginning of the real Diwali for citizens not on the traditional date but starting September 22, when these savings begin to take effect