GST 2.0 takes effect today with a simplified two-slab system, revised rates for 375 items, and price cuts on essentials. PM Modi called it a nationwide “festival of savings” for citizens.

New Delhi : In what is being termed the most significant overhaul of the Goods and Services Tax (GST) regime, the Government of India will implement the revised GST structure from Monday.

The sweeping reforms, approved earlier this month by the GST Council, introduce a simplified two-tier tax system and revise rates for over 375 items, directly impacting household budgets across the country.

Under the new structure, most goods and services will now be taxed at either 5 per cent or 18 per cent, replacing the earlier four-slab system. A higher rate of 40 per cent will apply exclusively to ultra-luxury i

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