Starting Monday, September 22, prices of 375 goods and services will drop as the new Goods and Services Tax (GST) structure comes into effect.
The revised framework, cleared by the GST Council earlier this year, reduces the number of tax slabs from four to just two: 5% and 18%.
A special 40% slab will remain applicable to a limited set of luxury and ‘sin’ goods.
Finance Minister Nirmala Sitharaman hailed the move as a ‘Diwali gift’ for citizens, highlighting that the reform not only benefits the middle class with lower prices but also simplifies compliance for businesses.
“This reform is about more than rationalising GST rates; it’s about ease of living and creating a stronger tax system. We have streamlined slabs and addressed long-pending issues related to compensation cess,” Sitharaman said.
Consumer brands reduced MRPs: Hindustan Unilever slashed prices on Dove shampoo, Lifebuoy soaps, Horlicks, and Kissan Jam; Amul cut rates on 700+ products like butter, ghee, cheese, paneer, ice cream, and bakery goods. Rail Neer water now costs ₹14.
Automobile Sector Gains Big
The automobile industry stands to benefit the most. Hatchbacks that previously attracted 28% GST plus cess will now be taxed at 18% without cess.
Car makers such as Maruti Suzuki, Tata Motors, and Hyundai have announced price reductions of ₹70,000 to ₹1.3 lakh on popular models, effective immediately.
Also Read: Gautam Adani Offers Prayers After SEBI Clean Chit In Hindenburg Probe
WhatsApp is preparing to roll out a major update designed to curb spam and unwanted…
A 9 mm bullet was found in a commuter’s bag at Hyderabad’s Moosapet Metro Station,…
Neurosurgeon Dr Richard Veyna warns that poor sleep, stress, inactivity, and sugary diets can harm…
Amazon Diwali sale ends October 20; grab last-minute deals on Samsung, Apple, OnePlus, Realme, and…
The government has extended the GSTR-3B filing deadline to 25 October 2025, giving taxpayers extra…
The BJP on Sunday slammed Akhilesh Yadav for questioning Diwali diya spending, calling his remarks…