India, Oct. 8 -- The food-processing sector is claimed to be a major beneficiary in the rationalisation of tax rates, with most products witnessing a decline to a 5 per cent GST slab. The simplified tax structure brings uniformity across food items with a reduced number of tax slabs. A stable tax environment will help businesses plan long-term investments, encourage compliance, and drive economic growth. Consumers are likely to witness reduced food prices, making staples more affordable. But, how soon, is the question. Let's explore

The GST Council, in its 56th meeting, made recommendations relating to changes in GST tax rates, provide relief to individuals, the common man, the aspirational middle class, and measures for the facilitation...