New Delhi, Sept. 8 -- The food-processing sector has been a major beneficiary of the recently announced rationalisation of GST rates, with most products witnessing a decline to a 5 per cent GST slab.

The rationalisation of GST to lower levels provides a variety of stimulants to the sector and encourages a virtuous cycle of economic growth.

On September 22, the first day of Navratri, all changes in GST rates will come into effect.

"The simplified tax structure brings uniformity across food items with reduced number of tax slabs. A stable tax environment will help businesses plan long-term investments, encourage compliance, and drive economic growth," according to a statement from Ministry of Food Processing Industries.

Consumers will w...