PHD Chamber of Commerce and Industry, Bihar, Chairman and industrialist Satyajit Singh termed the decision as a good initiative by the government.
He also expressed hope that the Centre would rationalise the tax percentage, besides simplifying the tax return procedure.
In the biggest GST rejig yet, tax rates on over 200 items, ranging from chewing gum to chocolates, to beauty products, wigs and wrist watches, were today cut to provide relief to consumers and businesses amid economic slowdown.
The decision was taken at the GST council's 23rd meeting at Guwahati.
Bihar Industries Association (BIA) President and industrialist K P S Keshri, too, expressed happiness at the GST Council's decision.
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