Mumbai, Sept. 8 -- PHDCCI welcomes bold GST Reforms announced by the Government. The decisions taken by the GST Council mark a significant and much-needed shift toward a more simplified and rational tax structure - something industry stakeholders have been hoping for over the past few years, the body stated. Moving to a two-slab system of 5% and 18%, with a separate 40% bracket for sin and luxury goods, is a practical move that will reduce confusion, bring more predictability to pricing, and make compliance easier for businesses across the board. It's good to see the government taking strong steps in the direction of reform, without losing sight of fiscal responsibility.

PHDCCI also welcome the reduction of GST on personal-care items lik...