Next-Gen GST Reforms Fuel Booming Sales Across Sectors

Union Finance Minister Nirmala Sitharaman highlighted the positive impact of next generation GST reforms on sales in various sectors during a recent event. Simplified GST rates and classifications have boosted sales in industries such as consumer durables, e-commerce, and automobiles, with promises of ongoing improvements.

Union Finance Minister Nirmala Sitharaman announced significant growth in sales across various sectors due to next-generation GST reforms implemented on September 22. This was shared during an event organized by Tamil Nadu Vanigar Sangagalin Peramaippu.

The minister emphasized her commitment to further simplification of the GST system, aligning with Prime Minister Narendra Modi's goal to benefit small traders and rural markets. Rate reductions and product reclassifications are central to these reforms.

After the reforms, sectors like consumer durables, e-commerce, and automobiles saw impressive sales surges. Notably, Maruti Suzuki received 80,000 inquiries post-reform. The ministry aims to continue refining the GST framework for the advantage of the trading community.

(With inputs from agencies.)