Key Points

Traders said the simplified tax structure and faster refund process will boost trade and encourage entrepreneurship in the region.

Locals expressed their heartfelt gratitude to Prime Minister Narendra Modi for the GST reforms and said this initiative will greatly benefit ordinary citizens.

Speaking to ANI, a local, Mohammad Soliha, said, "This brings great relief to common people, especially those from lower-income groups. It is very helpful for buying groceries, for which we earn money. People are very happy. Even middle-class families, who used to rely on government offers or free rations, are now feeling relieved thanks to the GST reforms."

Local shopkeepers and business associations praised the government for addressing long-pending concerns, stating that such initiatives will strengthen economic growth, generate employment opportunities, and contribute to overall development in Jammu and Kashmir.

A shopkeeper, Sajjad Ahmad, said, "This is a very good move. First of all, the prices of medicines have become much more affordable, which is a big relief. In my opinion, it is an excellent initiative and very beneficial for common people."

General Secretary of the Kashmir Traders and Manufacturers Federation, Bashir Kongposh, said, "This is a happy and very beneficial time for common people, who often struggled with their budgets. I am very grateful to Finance Minister Nirmala Sitharaman, who carefully planned and discussed this with Prime Minister Narendra Modi and the Home Minister. This is truly a historic decision."

The reform in the Goods and Services Tax structure, which was approved during the 56th meeting of the GST Council earlier this month, comes into effect from Monday.

The earlier four-rate system is replaced with a streamlined two-slab regime of 5 per cent and 18 per cent. A separate 40 per cent slab has been retained for luxury and sin goods.

- ANI