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India Unveils New GST Structure to Boost Economy

9/6/2025

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Summary

Story summary

The Indian government introduced a simplified two-slab GST structure to reduce taxes on essential goods.
Prime Minister Modi called the reforms a "double dose of growth and support" for the economy.
Effective September 22, 175 mass consumption items, including food, will see lower GST rates.
Experts predict home prices could drop by 6-10% due to GST cuts and restored Input Tax Credit.
The reforms aim to enhance housing affordability and stimulate overall economic growth.

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Story summary

The Indian government introduced a simplified two-slab GST structure to reduce taxes on essential goods.
Prime Minister Modi called the reforms a "double dose of growth and support" for the economy.
Effective September 22, 175 mass consumption items, including food, will see lower GST rates.
Experts predict home prices could drop by 6-10% due to GST cuts and restored Input Tax Credit.
The reforms aim to enhance housing affordability and stimulate overall economic growth.