Brief by Shorts91 Newsdesk / 08:00pm on 03 Sep 2025,Wednesday India
Prime Minister Narendra Modi welcomed the new two-tier Goods and Services Tax (GST) structure announced by the GST Council. He said the reform will benefit farmers, MSMEs, the middle class, women, and youth. The Council decided to keep only two slabs, 5% and 18%, while scrapping 12% and 28%. Most items under higher slabs have moved to lower rates. A new 40% slab will apply to luxury cars, tobacco, and cigarettes. Finance Minister Nirmala Sitharaman said the change will help the common man. The revised GST rates will take effect from September 22, the first day of Navratri. (PC: India Today)
