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Story summary
- Prime Minister Narendra Modi announced a GST cut effective September 22 to boost growth.
- The changes simplify the GST regime, with many items taxed at 5% or 18%.
- Reliance and Mahindra & Mahindra expect higher demand; auto sales up 30-40%.
- Small shopkeepers struggle to adapt amid confusion; tax cuts coincide with a $12 billion income-tax reduction and lower rates.
