Mumbai, Sept. 4 -- The GST rate rationalisation exercise carried out by the government and approved by the GST Council is a landmark reform and FICCI compliments the GST Council for the same. The simplification of the tax structure will offer multiple benefits. It will reduce classification disputes, improve compliance and address anomalies on account of inverted duty structure. While there are revenue implications of the announced measures as outlined by the government, the important point to note is the improvement in economic sentiments the reduction in rates will lead to and which in turn will boost consumption demand. This is a major positive for the economy both in terms of lifting growth and containing inflation.

Published by HT D...