New Delhi, Sept. 6 -- The Goods and Services Tax (GST) Council announced significant tax cuts on Wednesday, covering essential and aspirational goods from packaged foods to consumer electronics. The reform streamlines India's indirect tax structure from four to two tax slabs. This consumer-friendly move, effective 22 September, aims to provide relief during the festive season. Additionally, a few items, such as tobacco and related products and luxury vehicles, will be taxed in the extreme 40% bracket. However, implementation faces challenges as several states have raised concerns about fiscal implications, demanding compensation from the central government.







After a turbulent August marked by cloudbursts and landslides in many areas...