Prime Minister Narendra Modi’s GST 2.0, unveiled as a Diwali gift to the nation in 2025, marks a historic overhaul of India’s taxation system aimed at reducing the burden on the common man and fueling economic growth. This bold reform collapses the previous four-tier Goods and Services Tax structure into just two main slabs—5% for essentials and 18% for most other goods, while luxury and sin goods will now face a 40% rate. As a result, countless household items, including food, soap, toothpaste,

#Spotlight: India's Prime Minister Narendra Modi unveiled GST 2.0, a sweeping reform to India’s indirect tax system, billed as a "Festival of Savings." Timed with Navratri and extending through Diwali and beyond, the new GST merges four slabs into three effective categories: 0% on essentials, 5% on mass consumption goods and services, and 18% on most other items, alongside a 40% sin tax on alcohol, tobacco, and online betting. | Firstpost