Brief by Shorts91 Newsdesk / 05:46am on 03 Sep 2025,Wednesday India
The GST Council, led by Finance Minister Nirmala Sitharaman, is meeting today to discuss big changes in the tax system. The council may move from four slabs to just two – 5% and 18%. Many daily-use items could become cheaper as goods in the 12% slab may shift to 5%. Items in the 28% slab could move to 18%. A “sin tax” of 40% will stay on luxury cars and tobacco. The government says cheaper goods will boost spending, especially among the middle class. Opposition states, however, have raised concerns about revenue loss and are asking for compensation. (PC: NDTV)
