Page 62 - Mann Ki Baat English
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positive externalities are result in better clarity for both
appropriately placed at the taxpayers and administrators,
lower rate (5 per cent), while reducing classification disputes
standard goods that represent that have historically been
regular consumption bear a source of litigation and
the intermediate rate (18 per uncertainty.
cent). Products like popcorn, Third, the reforms have
previously differentiated addressed the issue of an
by flavour, now unify under inverted duty structure, wherein
the 5 per cent category for businesses had to pay a higher
namkeens. Most of the products tax on inputs than on the final
fall under the 5 per cent and product, tying up the working
18 per cent tax slabs, while the capital of enterprises and
40 per cent slab is reserved increasing their costs. In textiles,
only for a limited list of luxury man-made fibres and yarn drop
and sin goods. This achieves to 5 per cent from 18 per cent and
logical consistency in product 12 per cent, respectively, aligning
categorisation, eliminating the input-output rates. Similar fixes in
confusion and inconsistency agriculture (e.g., bio-pesticides
that arose from overly granular to 5 per cent) promote domestic
distinctions addresses, value addition, reducing import
tackling inefficiencies in the dependence and improving
tax architecture itself. This will terms of trade.
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