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21h agoGST reform effective Nov 1 eliminates 12% and 28% slabs and introduces new 40% slab for luxury linked categories
India’s tax structure underwent a major reform shift beginning Nov 1 as the government removed the 12% and 28% GST slabs and introduced a new 40% GST slab for luxury and sin goods. The restructuring is aimed at simplification, easier compliance, improved revenue efficiency and convergence toward sustainable tax architecture alignment. Economists said this creates a cleaner mid-to-high tiered tax logic path. Businesses will now focus on transition impact mapping across pricing chains, category margin resets, warehousing contract realignment and channel negotiation benchmarks as this GST upgrade pushes policy system normalization across indirect tax governance.
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21h agoGST reform effective Nov 1 eliminates 12% and 28% slabs and introduces new 40% slab for luxury linked categories
India’s tax structure underwent a major reform shift beginning Nov 1 as the government removed the 12% and 28% GST slabs and introduced a new 40% GST slab for luxury and sin goods. The restructuring is aimed at simplification, easier compliance, improved revenue efficiency and convergence toward sustainable tax architecture alignment. Economists said this creates a cleaner mid-to-high tiered tax logic path. Businesses will now focus on transition impact mapping across pricing chains, category margin resets, warehousing contract realignment and channel negotiation benchmarks as this GST upgrade pushes policy system normalization across indirect tax governance.
Explore:Mutual Fund Screening
neutral
GST reform effective Nov 1 eliminates 12% and 28% slabs and introduces new 40% slab for luxury linked categories
about 21 hours ago
1 min read
95 words
India executed a major GST restructuring removing 12% and 28% slabs while adding a new 40% slab on luxury goods to simplify tax structure and boost compliance efficiency.
India’s tax structure underwent a major reform shift beginning Nov 1 as the government removed the 12% and 28% GST slabs and introduced a new 40% GST slab for luxury and sin goods. The restructuring is aimed at simplification, easier compliance, improved revenue efficiency and convergence toward sustainable tax architecture alignment. Economists said this creates a cleaner mid-to-high tiered tax logic path. Businesses will now focus on transition impact mapping across pricing chains, category margin resets, warehousing contract realignment and channel negotiation benchmarks as this GST upgrade pushes policy system normalization across indirect tax governance.
India’s tax structure underwent a major reform shift beginning Nov 1 as the government removed the 12% and 28% GST slabs and introduced a new 40% GST slab for luxury and sin goods. The restructuring is aimed at simplification, easier compliance, improved revenue efficiency and convergence toward sustainable tax architecture alignment. Economists said this creates a cleaner mid-to-high tiered tax logic path. Businesses will now focus on transition impact mapping across pricing chains, category margin resets, warehousing contract realignment and channel negotiation benchmarks as this GST upgrade pushes policy system normalization across indirect tax governance.
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economy
GST
economy
GST
tax
reform
India
Nov 1, 2025 • 05:30 IST