India Slashes GST On Hundreds Of Consumer Items: Small Cars, Acs, Tvs Now At 18%

2025-09-03 02:25:25

(MENAFN- Khaleej Times)

India has decided to cut taxes on hundreds of consumer items ranging from soaps to small cars to spur domestic demand in the face of economic headwinds from U.S. tariffs, two state ministers told reporters on Wednesday.

The new goods and services tax (GST), which will become effective from September 22, will lead to an estimated revenue loss of 477 billion rupees, West Bengal minister Chandrima Bhattacharya said after the GST council meeting.

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Indian Finance Minister Nirmala Sitharaman said on Wednesday that the country's goods and services tax (GST) will have only two slabs when the new rates become effective.

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She said the decision to cut the rates of the consumption tax was taken unanimously by the GST council that includes ministers from the states. She also said that items in the 18% and 12% slabs had been brought to the 5% slab.

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