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Modi Unveils GST Reforms to Ease Consumer Burdens

8/15/2025

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Summary

Story summary

Prime Minister Modi plans major GST reforms before Diwali to reduce tax burdens on consumers and small businesses.
Proposed changes include simplifying tax slabs to two rates: 5% and 18%, plus a 40% rate for sin goods.
The reforms aim to improve affordability and stimulate consumption across sectors.
The GST Council will review these proposals, with implementation anticipated by October.

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Story summary

Prime Minister Modi plans major GST reforms before Diwali to reduce tax burdens on consumers and small businesses.
Proposed changes include simplifying tax slabs to two rates: 5% and 18%, plus a 40% rate for sin goods.
The reforms aim to improve affordability and stimulate consumption across sectors.
The GST Council will review these proposals, with implementation anticipated by October.