September 22, 2025 10:25 AM
GST 2.0 takes effect today, major tax reforms to ease prices for consumers
The Government of India on Monday implemented a major overhaul of the Goods and Services Tax (GST) regime, introducing a simplified two-tier tax system and revised rates for over 375 items, aimed at easing prices for consumers across the country. Under the new GST structure, most goods and services will now be taxed at either 5 per cent or 18 per cent, replacing the previous four-slab system. A higher rate of 40 per cent will apply only to ultra-luxury items, sin goods, and other demerit produc...
