GST reforms are huge victory for each, every citizen of country: Nirmala Sitharaman

Finance Minister Nirmala SItharaman

Union Finance Minister Nirmala Sitharaman on Sunday said that the GST reforms are a huge victory for each and every citizen of the country.

Taking into account that every state in India has their own festivals, it has been decided to implement the GST reforms much ahead of Prime Minister Narendra Modi's instruction of launching them before Deepavali festival, Sitharaman said at an event in Chennai.

In her address at the event, "Tax Reforms for Rising Bharat' organised by Chennai Citizens Forum, she said the beneficial impact of Goods and Services Tax would be there for all products from the start of the day till people go to bed.

Explaining some of the key initiatives, Sitharaman said 99 per cent of all the goods which were earlier taxed 12 per cent under GST have now been reduced to 5 per cent.

The latest set of GST reforms are set to come into force from September 22.