GST reform plans bring big relief for farmers and simple rates for all.
The government is rolling out a big GST shake-up this Diwali. The new plan? Just two tax slabs—5% and 18%—with sin goods at 40% GST. Everyday essentials, such as farm products, insurance, health items, and handicrafts, will become more affordable.
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The current 5 slabs (0%, 5%, 12%, 18%, 28%) are cut down to 2.
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Insurance, healthcare, and handicrafts are expected to be more affordable.
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Farmers, MSMEs, and daily users get relief.
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The GST Council is to meet in September, the final call before Diwali.
👉 Why this matters: Cheaper essentials and simplified GST reform plans mean more savings for people and a boost for India’s economy.
🔗 Source: India Today
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