GST rate cut, Sept. 21 -- India's central government-led GST Council, after its 56th Meeting on 3 September 2025, announced that the nation's future move to move on to a 'two-tier' tax system.

Under this 'two-tier' tax system, the government has updated the goods and services tax (GST) structure, where commodities sold in the nation will fall under the 5% or the 18% tax bracket, depending on their nature.

According to the current GST norms, the indirect tax is levied in four slabs - 5%, 12%, 18% and 28%, which the government has now changed. However, the central government has also exempted taxes on a list of lifesaving medicines and drugs to boost their sales in the country.

A list of 36 lifesaving medicines and drugs will become chea...