Mumbai, Sept. 4 -- union Minister Piyush Goyal here today said that the recent reforms in the Goods and Services Tax law are significant convenience and excellent news for both businesses and consumers.
According to him, the new GST structure will considerably benefit the country's industries, industrialists and retailers and the tax rate on several categories of goods has been reduced to just five percent.
He appealed to the industry to directly extend this facility to the public to ensure higher consumption and strong demand.
He said, "Initially, its significant impact on the financial results of companies may not be visible, but over time, the increase in demand and sales will create a win-win situation for all. Lower prices mean more...