Share your story and shine at JK Monitor!🌟 Welcome to JK Monitor, where every story matters and every achievement is celebrated! We invite you to share the remarkable journey of your life and showcase your accomplishments to the world. Join our exclusive interviews that honor exceptional individuals just like you. JAMMU: Dr. Shyama Prasad Mookherjee Smriti Nyas organized an insightful Intellectual Meet on "Next Gen GST Reforms" at Hotel Asia, Jammu, today. The event, held from 3:30 PM to 6:00 PM, brought together experts, officials, and prominent personalities to discuss the transformative impact of the recent GST rate revisions notified by the Government of India in its 56th GST Council Meeting held on 03-09-2025. The meet highlighted how these reforms mark a new economic dawn for India, reducing tax burdens and boosting consumption across sectors.
The event was presided over by Sh. Sat Sharma CA, with CA Aanchal Kapoor as the Key Speaker. Guests of Honour included Sh. Umair Meer, Additional Commissioner (Audit), CGST; Sh. Afaq Ahmed Giri, Joint Commissioner, CGST; and Sh. Manoj Prabhakar, Joint Controller (Legal Metrology Jammu). Notable attendees also included MLA’s Sh. Arvind Gupta, Sh. Yudhvir Sethi, Sh. Vikram Randhawa ,Smt. Priya Sethi Ex. MLA and Ex. Minister in J&K Govt. and other prominent personalities from the town.
In his presiding address, Sh. Sat Sharma CA emphasized the reforms as the culmination of a decade of the Modi government's visionary economic management. "This Next-Gen GST Reform is not just a policy adjustment; it is a historic milestone that slashes GST rates across the board—99% of goods in the 12% bracket and 90% in the 28% bracket now benefit from reductions," he stated. He highlighted the shift to a simple two-rate structure (5% and 18%), which will inject nearly ₹2 lakh crore into domestic consumption, equivalent to 4 times the PMAY allocations and 10 times the PLI Scheme allocations. "This is an immediate victory for every Indian, ensuring prosperity reaches every corner. This year, Lakshmi Ji sabke ghar aayegi," Sharma added, underscoring the pro-people approach that protects the poor and middle class while securing the national exchequer.
Key Speaker CA Aanchal Kapoor delved into the practical implications of the reforms. She explained the new rate schedules, including exemptions for essentials like milk, paneer, and curd (reduced from 5% to 0%), and slashes on daily items such as hair oil, shampoo, toothpaste, and soap (from 18% to 5%). "These changes empower citizens by enhancing purchasing power, driving a new wave of consumption from the ground up.
The simplified GST with only two slabs will make compliance easier for households and businesses alike," Kapoor said. She contrasted this with past regimes, noting that the Modi government's focus on increasing taxpayers—from 65 lakh in 2017 to over 1.51 crore today—has enabled such bold reductions without compromising revenue. Kapoor also highlighted benefits for MSMEs, including upfront 90% tax refunds, faster logistics, and fixes to the inverted duty structure, unlocking cash flow and competitiveness.
The Guests of Honour addressed specific issues faced by traders and consumers. Sh. Umair Meer focused on audit and compliance simplifications, assuring traders of reduced burdens through AI-enabled leakage prevention and auto-registration in just 3 days. "These reforms fix blocked capital and improve cash flow, directly benefiting small businesses that employ over 110 million people," he noted. Sh. Afaq Ahmed Giri discussed consumer relief, such as lower taxes on groceries (12% to 5%), kitchen essentials like butter and ghee (12% to 5%), and aspirational goods like cars, fridges, and ACs (28% to 18%).
He emphasized the virtuous cycle: lower taxes leading to more spending, jobs, production, and a wider tax base for future reductions. Sh. Manoj Prabhakar elaborated on legal metrology aspects, highlighting protections for consumers in areas like fertilizers and urea (reduced to 5%), and modern farming equipment like tractors and drip irrigation systems (slashed to 5%). "This boosts farmer incomes, stimulates rural economies, and makes agricultural modernization affordable," he said, addressing trader concerns on input tax credits and interstate trade.
The officers collectively advised all traders to pass on the benefits of GST reductions to consumers and guided consumers to remain aware and ensure that these benefits are indeed being passed on by traders. They cautioned that if the benefits are not passed on, the departments will take necessary action as required under the law.
The meet also underscored the reforms' foundation in cooperative federalism, achieved through unanimous consensus in the GST Council, transcending political lines under Prime Minister Modi's leadership. Attendees praised the event for fostering dialogue on how these changes contrast with the UPA era's high taxes and inefficiencies, positioning India as the world's fastest-growing economy.
The proceedings were conducted by CA Deepak Kapahi, who facilitated engaging discussions on the simplified GST structure and its benefits for traders, consumers, and the broader economy. Dr. Shyama Prasad Mookherjee Smriti Nyas is dedicated to promoting intellectual discourse on national issues, inspired by the visionary leader's legacy.
