Mumbai (Maharashtra) [India], September 16: The GST Council, at its 56th Meeting held on 3rd September 2025, approved the rationalization of GST rates by moving to a two-slab structure of 5% and 18%, abolishing the existing 12% and 28% rates. These revised rates will come into effect from 22
Following the Goods and Services Tax (GST) overhaul and reducing the Services Tax slabs to two, Bharatiya Janata Party (BJP) National General Secretary Tarun Chugh lauded Prime Minister Narendra Modi and said that the Delhi BJP passed a vote of thanks and trade organisations in Delhi would c
Reduction and rationalisation of Goods and Services Tax slabs - reducing them to two, and exempting certain items, including premiums for health and life insurance - were 18 months in the making, Finance Minister Nirmala Sitharaman said at an NDTV summit Tuesday.
The new GST rates and slabs will have a wide-scale positive impact on the many items related to heavy industries, be it auto, transport, or auto ancillaries.
The food-processing sector has been a major beneficiary of the recently announced rationalisation of GST rates, with most products witnessing a decline to a 5 per cent GST slab.
Speaking to ANI on Sunday, Tharoor said the Congress party has been demanding changes in the Goods and Services Tax (GST) rate slabs for several years.
Samajwadi Party (SP) president Akhilesh Yadav on Sunday criticized the Centre's recent Goods and Services Tax (GST) reforms, terming them inadequate to address inflation and accusing the government of enabling select groups to profit under the guise of the tax regime.
In a statement, USIBC praised the rationalisation of GST slabs and reduction in tax rates across key sectors, including food, healthcare, life-saving drugs, renewable energy, and electronics.
According to him, the revision of GST slabs and reduction of taxes on essential products will give a significant boost to the Indian economy, propelling it to new heights in the market.
The Union Minister said that the government's move to eliminate the 18 per cent GST slab and bring relief on essential items marked a major step towards easing the financial burden on the middle class and the poor.