GST reforms boosted Diwali sales, says Sitharaman

India's economic policies, including the recent rationalisation in the Goods and Services Tax (GST) regime, are having a meaningful impact with an "euphoric increase" in business transactions, finance minister Nirmala Sitharaman said, citing the industry data that showed a 25% annualized jump in Diwali sales this year to a record ₹6.05 lakh crore.

- Rajeev Jayaswal

Finance minister Nirmala Sitharaman cited industry data that showed a 25% annualized jump in Diwali sales this year.

(PT)

Speaking about next-generation GST reforms (GST 2.0) announced by Prime Minister Narendra Modi on August 15 and implemented from October 22, Sitharaman said officials in the field should maintain the momentum of reforms through ease of compliance and honourably treating taxpayers. She was speaking at the inauguration of the new Central GST (CGST) building in Ghaziabad on Friday.

The minister said taxpayers must feel the impact of the next generation GST reforms. "They should feel that they are honorably treated, as they are the taxpayers to the nation. If there are people who are bad sheep among taxpayers, follow the protocol to catch hold of them. But don't look at everybody with suspicion."