New Delhi, Sept. 21 -- On 3 September, the GST Council approved a major overhaul in the indirect tax regime, bringing rates down on the majority of the products. While Monday was set as the roll-out date for the new rates, several companies have already announced price cuts to pass on the benefits to consumers. At the same time, in many segments, the pass-through of benefits has been slow, missing, or partial.

A Mint analysis of rate cut announcements made by the government shows that the move has brought maximum products to 5% tax slab (309) from 12% (274) earlier, while a 40% tax rate has been introduced on 18 items. Overall, the impact of the cuts is expected to be positive, with economists expecting inflation to come down as much as ...