FinanceMinister Piyush Goyal today said the Goods and Services Tax will bring intransparency and honesty in the system. In his opening address at 28th GSTCouncil meeting in New Delhi, Mr Goyal said that better compliance and honestimplementation of GST tax structure will benefit people at large as they willget various goods and services at cheaper rates. He said GST is an example ofcooperative federalism and thanked the states and union territories for risingabove politics and extending wholehearted support in the implementation of thenew indirect tax regime.<br />'' He added thatGST is the biggest ever tax reform to be ever implemented on such a vast scalein a country of such wide diversity as India. The Minister said that one of themajor decision of today's Council Meeting would be that it resolved to thank125 crore people of the country for their wholehearted support and cooperationin successful implementation of GST on pan India basis despite some problems.<br />'' Sources saidthe Council may consider the reduction in tax rates on the host of items withlow revenue implications as part of the tax rationalization exercise. The itemswhich could be considered for cutting of tax rates might include sanitarynapkins, handicrafts and handloom goods. The Council will take up the issue ofrationalisation of taxes in view of demand raised by stakeholders.