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.