NEW DELHI, Sept. 23 -- The rationalised Goods and Services Tax (GST) rates came into effect on 22 September. After the upward revision in income tax slabs - effectively a tax cut - announced in the 2025-26 Union Budget, the latest GST rejig is yet another policy burden to reduce the tax burden on the economy. The government's own calculations put the estimated tax forgone because of these two decisions at around Rs.1.5 lakh crore ( Rs.1 lakh crore form the income tax slab revision and Rs.45,000 crore from the GST rationalisation) in the current financial year. The fact that the GST rationalisation has been done in time with the major part of the festive season is clearly an attempt to boost spending in the economy and generate tailwinds f...