Скачать или смотреть GST Bonanza: Festive Rate Cuts On Cars, TVs, FMCG Expected Soon | India Today

Following Prime Minister Narendra Modi's Independence Day promise of a festive bonanza, the GST Council is meeting to finalize rate cuts that could be rolled out as early as September 5th. This move is anticipated to make a wide range of products cheaper ahead of Diwali. The proposed changes include a potential 10% GST slash on small cars and two-wheelers, and lower rates on air conditioners, televisions, and cement. A key quote from the Prime Minister's announcement captured the sentiment: "This Diwali, you are going to get a big gift from the people of this country. We are bringing next-generation GST reforms." The reforms are also expected to cover everyday FMCG products like toothpaste and shampoo, potentially moving them to a lower tax bracket. While there are concerns that anticipation could delay purchases, an SBI research report suggests states will remain net gainers despite an initial dip in collections, with the new regime aiming to broaden the tax base and simplify compliance.
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