Goyal assures full GST benefit transfer to consumers; defends three-slab structure
Friday, 5 September 2025 () Commerce Minister Piyush Goyal assured that reduced GST rates would directly benefit citizens, with industries committed to passing on gains. He highlighted trust in stakeholders and monitoring mechanisms for compliance, dismissing revenue shortfall concerns due to robust tax collections. The GST structure addresses diverse needs, offering relief in healthcare and aiming to simplify compliance and boost demand.
India is set for a major GST overhaul starting September 22, as Finance Minister Nirmala Sitharaman announced a new two-tier GST rate structure of 5% and 18%.
From soaps to small cars, several common-use items will see revised prices. Sitharaman said the move is part of a broader “structural...
Friday, 5 September 2025 ()
