What is a GST reduction?

A GST reduction is a government decision to lower the Goods and Services Tax rates applied to specific products or services, aiming to make them more affordable for consumers.

Why do governments reduce GST rates?

Governments typically reduce GST to stimulate consumer spending, alleviate inflationary pressures, lower the cost of living, or boost specific economic sectors and industries.

How does GST reduction impact consumers?

Consumers generally benefit from lower prices on goods and services where the GST rate has been cut, leading to increased purchasing power and potential savings on essential items.

Do all products and services benefit from a GST reduction?

Not necessarily. GST reductions are often selective, targeting specific essential goods, services, or industries rather than applying universally across the entire range of items.