New Delhi, Sept 22: India's revamped Goods and Services Tax system, dubbed next-generation GST or "GST Bachat Utsav", came into effect on Monday, reducing taxes on around 370 products, including daily essentials and lifesaving medicines.

Over 50 items, including UHT milk, khakhras, pre-packaged paneer, and breads like chapatis and parathas, will now fall under a zero-tax bracket due to the new structure.

Thirty-three essential drugs and therapies for conditions including cancer and rare diseases are now exempt from GST, while the tax rate on numerous other medicines have been reduced from 12% to zero. Medical devices, such as diagnostic kits and glucometers, now incur a GST of just 5%.

The levy on stationery items for schools and offices, including erasers, pencils, notebooks, and maps

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