Tuesday, 02 January 2024 12:17 GMT

PM Narendra Modi To Address The Nation At 5 Pm Today


(MENAFN- Live Mint) Prime Minister Narendra Modi will address the nation at 5 pm on Sunday, September 21 – just a day before GST (Goods and Services Tax) reforms come into effect.

The last time PM Modi addressed the nation was after India and Pakistan reached a“bilateral understanding” following a conflict in May this year. The two countries had engaged in cross-firing after 26 people were killed in the Pahalgam terror attack and India retaliated with Operation Sindoor.

Crucial time for India

PM Modi's address came at a crucial time when India is set to implement GST rate cuts - on the first day of the Navaratri - amid US President Donald Trump's tariff threats and US H-1B visa application fee hike.

In a bonanza to consumers, GST will now be a two-tier structure wherein majority of goods and services will attract tax of 5 and 18 per cent. A 40 per cent tax will be levied on ultra luxury items while tobacco and related products will continue to be in the 28 per cent plus cess category.

Currently, GST is levied in 4 slabs of 5, 12, 18 and 28 per cent. Besides, a compensation cess is levied on luxury items and demerit or sin goods.

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