GST rates to 'substantially' reduce by Diwali: Modi
New Delhi, Aug 15 (PTI): Prime Minister Narendra Modi on Friday said the next generation reforms in Goods and Services Tax (GST) will be unveiled by Diwali, which will provide 'substantial' tax relief to common man and benefit small and medium enterprises.
Addressing the nation on 79th Independence Day, Modi said the time has come to undertake reforms in GST as the indirect tax regime has completed 8 years.
GST, which subsumed a host of taxes and local levies, was rolled out on July 1, 2017.
"We have discussed with states and we will usher in next generation GST reforms by Diwali, which will be a Diwali gift for citizens. Tax on items of common man will be reduced substantially. Our MSMEs will benefit hugely. Daily use items will become cheaper, which will also strengthen our economy," Modi said in his speech from the ramparts of the Red Fort.
A Group of Ministers (GoM) comprising state finance ministers is already discussing the rate rationalisation and pruning of slabs in GST.
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Rickelton's ton in vain as SRH beat MI by 6 wickets
Mumbai (PTI): Ryan Rickelton's whirlwind unbeaten ton was overshadowed by Heinrich Klaasen's unbeaten 65 as Sunrisers Hyderabad defeated Mumbai Indians by six wickets in an IPL match here on Wednesday.
Chasing an imposing 244-run target, Travis Head (76 off 30) and Abhishek Sharma (45 off 24) shared 129 runs for the opening wicket to set the platform for SRH.
Klaasen (65 not out off 30 balls) then displayed his all-round hitting abilities to guide SRH home with the help of Nitish Kumar Reddy (21) and Salil Arora (30 not out off 10) in 18.4 overs.
Earlier, Rickelton's knock powered MI to 243 for five.
MI rode on a 93-run stand between Rickelton (123 not out off 55 balls) and Will Jacks (46 off 22) in 7.1 overs for the opening stand to power the side.
MI skipper Hardik Pandya scored a valuable 31 off 15 balls before being dismissed.
Praful Hinge (2/54), Eshan Malinga (1/29), Sakib Hasan (1/39) and Nitish Kumar Reddy (1/31) were the wicket-takers for SRH.
Brief Scores:
Mumbai Indian: 243 for 5 in 20 overs (Ryan Rickelton 123 not out; Praful Hinge 2/54).
Sunrisers Hyderabad: 249 for 4 in 18.4 overs (Travis Head 76, Heinrich Klaasen 65 not out; AM Ghazanfar 2/51).
