Panaji: The Associated Chambers of Commerce and Industry of India (ASSOCHAM) has welcomed the GST reforms announced at the 56th GST Council Meeting. The revamp introduces a two-slab structure of 5% and 18%, with a 40% slab for luxury and sin goods.
ASSOCHAM Goa Council Chairman Manguirish Pai Raiker said the reforms would simplify procedures, reduce litigation, boost compliance, and give fresh incentive to trade and industry. He added that lower rates on products would benefit the common man and strengthen the economy.
