New Delhi, Sept. 4 -- Union Minister of State for Finance Pankaj Chaudhary stated that the new Goods and Services Tax (GST) slabs will provide relief to the common man, small traders and micro, small and medium enterprises (MSMEs).

While speaking to ANI, Chaudhary said, "The purpose behind making two slabs was that earlier there used to be four slabs, 5 per cent, 12 per cent, 18 per cent, 28 per cent and a lot of confusion was created in it. This has been done to remove that and to make the work of making GST easier. This will provide relief to the common man, small traders, and MSMEs."

"The rate rationalisation committee was working on this for about a year or two. All the states were also in agreement that the rates should be changed,...