GST reforms: Slab cuts to simplify taxes, lower prices and boost consumption, says BoB report
India is poised to overhaul its GST structure, reducing tax slabs from four to two. This reform aims to lower rates on essential goods and durables, potentially boosting consumption by Rs 0.7–1 lakh crore. The changes, coupled with a possible repo rate cut, are expected to stimulate demand and ease inflationary pressures, benefiting various sectors.🕒 1 min read
India is poised to overhaul its GST structure, reducing tax slabs from four to two. This reform aims to lower rates on essential goods and durables, potentially boosting consumption by Rs 0.7–1 lakh crore. The changes, coupled with a possible repo rate cut, are expected to stimulate demand and ease inflationary pressures, benefiting various sectors.
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