By TC News Desk
Agartala, 10th October 2025 : Finance Minister Pranajit Singh Roy today highlighted the transformative impact of the Goods and Services Tax (GST) system on India’s economic landscape, stating that both the country and the state are witnessing stronger financial conditions and improved revenue collection due to GST reforms.
Speaking at a workshop titled “Benefits of GST for the Next Generation” held at Rajarshi Kalakshetra in Udaipur, Roy emphasized that the GST system has opened new avenues for enhancing the quality of life for ordinary citizens. The event was jointly organized by the Finance Department of the Tripura Government and the State Tax Commissionerate.
Roy credited Prime Minister Narendra Modi for implementing the “One Nation, One Tax” vision, calling it a historic move that replaced a complex web of taxes—including Excise Duty, Customs Duty, Service Tax, VAT, and Luxury Tax—with a unified GST framework. “This reform has not only simplified taxation but also propelled India’s economy from the 11th to the 4th position globally,” he said.
The Finance Minister also outlined the state’s roadmap for “Developed Tripura 2047,” aligning with the national goal of “Developed India 2047.” He noted that GST rates have been streamlined into two primary slabs—5% and 18%—which has significantly reduced the financial burden on common citizens, offering an estimated 4% monthly savings.
Roy highlighted several key exemptions and reductions under the revised GST structure. He noted that essential food items such as milk, chickpeas, and bread are now completely tax-exempt. Household goods like soap, shampoo, toothpaste, and bicycles are taxed at a reduced rate of just 5%. Processed foods including salt, sauce, pasta, noodles, chocolate, butter and ghee have seen their GST rates lowered from 12–18% to 5%. Both life and health insurance services are now exempt from GST. Medical supplies, including life-saving drugs, diagnostic kits, and equipment, are either tax-free or taxed at only 5%. Agricultural machinery such as tractors and harvesters also fall under the 5% tax bracket. Additionally, the GST on cement, a vital construction material, has been reduced from 28% to 18%.
Roy also praised the broader developmental strides under the Modi government, citing advancements in infrastructure, national highways, defense capabilities, and domestic manufacturing of weapons and helicopters as signs of growing self-reliance.
Distinguished guests at the workshop included Finance Secretary Apurba Roy, Chief Commissioner of State Tax Dr. Akinchan Sarkar and Additional Commissioner L. Ranchal among other senior officials.
