Ranchi, Sept. 4 -- The 56th GST Council meeting, chaired by union Finance Minister Nirmala Sitharaman in New Delhi on September 2-3, has introduced major reforms in the country's tax structure.
While common people in Jharkhand have welcomed the decision, the state's ruling party has expressed concern over the potential loss of revenue.
The Council decided to reduce the existing four tax slabs to just two percent and 18 percent. This simplification is being hailed as a major step towards reducing tax burdens, especially on everyday items such as hair oil, toothpaste, soaps, packaged snacks, clothes, and footwear.
Residents in Ranchi and other parts of Jharkhand expressed relief, noting that the changes will ease household budgets, particu...