New Delhi, Sep 5
Industry leaders welcomed the recently announced GST reforms, which reduce the number of tax slabs, stating that it will make tax compliance easier while also directly benefiting consumers through lower prices.
For the education sector, GST on pencils, erasers, books, and notebooks has been completely removed, making education more affordable for students.
Taxes on some medicines have been cut from 12 per cent to 5 per cent, while certain medical devices are now either tax-free or fall under the 5 per cent bracket, Agarwal added.
In this context, the GST reforms will help unlock domestic demand, which is critical for sustained economic growth, Dr Khanna said.