New Delhi, Sep 12 (UNI) Commerce Minister Piyush Goyal today said the recent round of GST reform is the biggest reform since Independence and there will not be a single citizen out of 1.4 billion who will not benefit from these reforms.
Speaking at the 65th Annual Session of the Automotive Component Manufacturers Association (ACMA) the Minister said reducing GST rates from 28 percent to 18 percent is a landmark reform and a huge relief for the auto industry.
For tractors, GST has been reduced to 5 percent, giving a major boost to the agriculture sector.
He said this reform will make spare parts more affordable, strengthen formalisation, generate jobs, and expand demand across the value chain. He stressed that the benefits must be fully passed on to consumers.
GST reform the biggest since independence and huge relief for auto industry : Piyush Goyal
