NEW DELHI: Indian Prime Minister Narendra Modi said on Friday the goods and services tax (GST) would be reformed and taxes lowered by Diwali, the Hindu festival of lights, set to be celebrated in October this year.
“This Diwali, I am going to make it a double Diwali for you. Over the past eight years, we have undertaken a major reform in goods and services tax. We are bringing next-generation GST reforms that will reduce the tax burden across the country,” he said during a speech to mark the country’s anniversary of independence.
Modi’s announcement comes as India moves to simplify its GST structure, with a group of ministers preparing a report that will consider merging tax slabs and lowering rates on some products.