India, Sept. 5 -- Following the government's announcement of a festive bonanza for MSMEs and a wave of supportive state-level actions, India's next-generation GST reforms are now in effect. This shift to a simplified two-tier tax structure promises to reshape the business landscape. While industry leaders hail its long-term potential, voices from the distribution channel urge caution, highlighting the critical challenge of ensuring benefits reach the end-consumer.

Decoding the New GST Structure for Industry

The reforms consolidate the previous complex slabs into a clearer system. Most goods now fall under a 5% or 18% rate, while luxury and 'sin' goods are grouped under a new 40% demerit rate. For the technology sector, this means signif...