PM Modi announces GST Council’s approval of rate rationalisation and reforms
Published on: Sept. 3, 2025, 10:53 p.m. | Source: The Economic Times
The GST Council has approved reforms to simplify the Goods and Services Tax. The Union Government's proposal includes rate rationalisation. The 12% and 28% tax slabs will be abolished. Only 5% and 18% slabs will remain. A new 40% slab is introduced for automobiles and sin goods. These changes aim to ease business and reduce taxpayer burden.
