New Delhi, Sept. 3 -- Ahead of the 56th meeting of the Goods and Services Tax (GST) Council, BJP MP Praveen Khandelwal on Wednesday expressed optimism about the reforms, stating that they will benefit both traders and common consumers.

He also expected that the two-slab structure would simplify tax compliance and reduce the burden. The proposed GST structure includes two slabs: 5% and 18%. This aims to streamline the current four-slab system, which provides for rates of 5%, 12%, 18%, and 28%.

Speaking to ANI, the BJP MP described the proposed reforms as "a major next-generation GST reform" under the leadership of Prime Minister Narendra Modi.

Khandelwal said, "Under the leadership of PM Narendra Modi, this is a major next-generation GS...