Puducherry Sep 22 (PTI) The new GST reforms that kicked in across the country on Monday would directly benefit families, farmers and middle class while strengthening States and Union Territories through sustainable revenue growth, the territorial government has said.

Assistant Commissioner of Commerce Tax (Audit and Intelligence) S Rewathi said in a release late on Sunday that "the reduction in GST (rates) will significantly reduce the burden and will benefit common man, farmers, Micro, Small and Medium Enterprises (MSMEs), middle class, women and the youth." These reforms will ensure ease of doing business for all, especially small traders and business enterprises, she added.

The territorial administration has issued notifications giving effect to revised GST rates that are effective from Monday, the official informed.

The Commercial Tax department has advised all registered tax payers in the Union Territory to update their billing and accounting systems and apply the revised GST rates while issuing invoices from September 22 onwards.

It has also advised the businesses to pass on the benefit of the rate reduction to consumers by way of commensurate reduction in prices.

Tax payers and the general public can approach the department for any clarification and assistance. They can also send messages through WhatsApp to 7397717723.

The GST reforms were also welcomed by a cross section of the public in the union territory. Many home makers said prices of essentials and household staples would come down considerably following the implementation of the two tax slabs of 5 per cent and 18 per cent.

Puducherry is known for its large number of two wheelers and cars. The GST revision would further spur the sale of the vehicles, a local merchant dealing with vehicles said.

Official sources also claimed that ahead of the festival season, there would be a "big boost in consumption and growth ensuring investment and generation of employment through ease of doing business and strengthening cooperative federalism." A resolution passed in the territorial Assembly on September 18 had said that "by easing compliance, rationalising rates and reducing taxes, the reforms in GST will make the GST regime more citizen friendly and business-friendly." Puducherry is ruled by the AINRC-led NDA government under Chief Minister N Rangasamy. PTI CORR SA

GST rate reduction aids consumers and businesses; taxpayers must promptly update billing systems to reflect changes. Notifications implement revised GST rates effective September 22 and require taxpayers to update billing and accounting systems to apply the new rates in invoices from that date; businesses are urged to pass rate reductions to consumers and the department has provided contact channels for clarification and assistance.