Overview

• The 56th GST Council approved the overhaul on September 3, with implementation scheduled for September 22, 2025.
• Goyal says the reforms will simplify GST laws and procedures to improve ease of doing business.
• He urged companies to pass the full benefit of lower taxes to consumers through reduced prices.
• Citing logistics gains, he highlighted the cut in GST on trucks from 28% to 18% to reduce supply-chain costs.
• He said sectors including pharmaceuticals and nutraceuticals stand to gain from the changes.