India GST Revamp: New Rates, Luxury Tax

  Published 9 months ago

India's GST overhaul drops 12% and 28% slabs, adds 5% and 18% rates, and 40% tax.

  • The federal government hasn't calculated the revenue loss from the GST rate changes, according to officials recently.
  • State ministers' panel approved the new 5% and 18% structure, removing 12% and 28% brackets.
  • The panel also suggested taxing high‑end luxury cars and sin goods at a 40% rate now.

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