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New Delhi: Maharashtra’s agriculture, industry, and services sectors are set to benefit from recent Goods and Services Tax (GST) reforms that have reduced rates to enhance consumption and competitiveness, government informed on Sunday.

GST reforms that reduced costs for consumers and improved margins for producers are expected to benefit industries including sugar, processed foods, fisheries, handlooms and IT services.

The GST reduction on refined sugar from 12 per cent to 5 per cent will lower sugar prices by around 7 per cent at wholesale level, benefiting India’s largest sugar producer-Maharashtra’s sugar belt, comprising of Kolhapur, Sangli, Satara, Pune, Solapur, and Ahmednagar.

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