All articles tagged with #gst
Prime Minister Narendra Modi's recent GST cuts in India, reducing taxes on essential goods and consumer products, are expected to boost household spending during the upcoming festive season, despite potential revenue losses and implementation challenges among small businesses.
India has simplified its Goods and Services Tax (GST) into two slabs, reducing taxes on many goods like food, school supplies, and insurance to boost consumption and counteract the impact of US tariffs, with the new rates taking effect on September 22. The move aims to stimulate economic growth, especially during the festive season, despite potential revenue shortfalls for states reliant on GST revenue.