The GST Bachat Utsav, announced by Prime Minister Narendra Modi and commencing from the 22nd of last month, is benefiting the country as a whole. Today, our correspondent brings a report on the GST reforms that will empower different industries of Goa.

 

The new GST reform is a welcome boost for Goa’s economy, especially for its farmers, artisans, tourism players and small businesses. Under the revised structure, Cashew products, which earlier faced 12 percent to 18 percent GST, now draw just 5 percent, helping reduce retail prices and improve competitiveness. GI-tagged products such as Khola chilli, Harmal chilli, and Agassaim brinjal are now taxed at 5 percent instead of 18 percent, making sauces, pickles and spice mixes roughly 11 percent cheaper. Goa’s tourism and hospitality sector stands to gain significantly.

 

 

Items like toiletries, tableware and breakfast supplies that shifted from 18 percent to 5 percent will see price reductions of about 11 percent, while goods such as pre-packaged coconut water moving from 12 percent to 5 percent have become about 6 percent cheaper. Sectors such as fisheries and seafood processing, now enjoy relief as products now attract only a 5 percent tax rate. This move has strengthened the affordability of frozen fish, shrimp exports and local seafood trade. The reforms are geared to boost demand, preserve livelihoods, and energise Goa’s tourism and small business economies through the festive season and beyond.