New Delhi, Sept. 22 -- Indian taxpayers will experience a shift in the Goods and Services Tax (GST) structure, as the revamped GST 2.0 comes into force. The new system simplifies the tax regime with just two primary slabs- 5% and 18%, covering the majority of goods and services.

Also Read: GST Rate Cut LIVE Updates: GST on 375 items to get slashed from today; cars, milk, food, electronics to get cheaper

Ultra-luxury items will now be taxed at 40%, while tobacco and related products will remain under the 28% slab plus cess.

Also Read: GST 2.0: Here's how the Indian stock market may react today. 10 stocks to benefit

Speaking on Sunday, Prime Minister Narendra Modi described the reforms as a major milestone for "Aatmanirbhar Bharat", emp...