GST reforms are game-changing, says Goyal

New Delhi, Sep 4 (PTI) Union Commerce and Industry Minister Piyush Goyal on Thursday described the GST reforms as game-changing and asked the industry to pass on the full benefit to consumers.

Addressing an event, India MedTech Expo 2025 here, the minister said the reduction in GST would benefit every consumer.

"Yesterday's reform in indirect taxes in GST, coming on the back of several initiatives over the last 11 years, is transformational in nature, significantly impacting the pharma sector, significantly impacting so many sectors, right from the farmer until our MSMEs," he said.

"Every stakeholder in the country, every consumer, stands to benefit," Goyal added.

Terming the GST reforms as "game-changing", the minister said the move will play a very important role in the months and years to come in the journey of becoming a developed country by 2047.

Goyal asked the industry to "pass on all these benefits of GST to the consumers." He said the pharma and neutraceutical industries would also benefit from these GST reforms. PTI MSS MJH DR DR