GST reforms defining moment in journey towards more inclusive tax system: Mahindra Group CEO

New Delhi, Sep 3 (PTI) The next-generation GST reforms mark a defining moment in India's journey towards building a simpler, fairer, and more inclusive tax system, Mahindra Group CEO & MD Anish Shah said on Wednesday.

Reacting to the GST Council's decision to overhaul the tangled Goods and Services Tax (GST), Shah said the Mahindra group views these reforms as transformative as it simplifies compliance, expands affordability, and energises consumption, while enabling industry to invest with greater confidence.

"The next-generation GST reforms announced today mark a defining moment in India's journey towards building a simpler, fairer, and more inclusive tax system," he said in a statement.

Shah further said by moving to a streamlined two-rate structure and focusing on essentials that touch the lives of every citizen- from food, health, and insurance to agriculture and small businesses - the government has "reaffirmed its commitment to ease of living and ease of doing business".

"The rationalisation measures will not only provide immediate relief to households but also strengthen key sectors such as automobiles, agriculture, healthcare, renewable energy, and MSMEs - all of which are vital to job creation and sustainable growth. The correction of long-pending inverted duty structures in critical industries is welcome, he noted.

At Mahindra, Shah said, "We view these reforms as transformative. They simplify compliance, expand affordability, and energise consumption, while enabling industry to invest with greater confidence." Lauding the government for the initiative, he said, "This bold step is in line with the vision articulated by the Prime Minister (Narendra Modi) of building a citizen-centric, future-ready Bharat. It strengthens India's economic foundations and will help drive the next phase of equitable and inclusive growth- journey towards Viksit Bharat @2047." PTI RKL HVA