Mizoram’s political-financial commentators, Pu Lalhunliana Ralte, welcomed the move, calling the restructuring of GST collection “a step in the right direction.” According to Ralte, simplifying the tax collection process is expected to increase consumer spending without negatively impacting overall tax revenue.
“The previous four-tier tax structure will now be reduced to a simpler, two-tier system,” Pu Lalhunliana Ralte explained. He added that the highest 40% GST slab, affects only a small segment of the population and is neglected. However, attention has largely focused on the more commonly paid 18% slab, which is now set to be reduced to 5%.
Pu Lalhunliana Ralte also noted that the 28% GST slab will be lowered to 18%, a change that could significantly affect the prices of essential goods and services. “People are eagerly awaiting the implementation of this reform. It is widely expected that product prices will drop, providing relief to the general public,” he said.