The new GST (Goods and Services Tax) rates can be effective from September 22. The important meeting of the GST Council will be held in Delhi on 3 and 4 September, in which the suggestions proposed by the Finance Ministry will be discussed. It is believed that in this meeting, the proposal of major changes in tax slabs will be considered by Prime Minister Narendra Modi’s ramparts from the ramparts of the Red Fort.

On approval of the proposal, 2 slabs will be left in GST system
According to sources, the proposal to abolish two main GST slabs of 12 percent and 28 percent, especially in the meeting, can be discussed. If this proposal is approved, then only two slabs will be left in the Indian GST system, 5 percent and 18 percent. This change will make the tax system more simple.

40 percent tax can be imposed on tobacco-cigarette and other products
At the same time, 40 percent tax can be imposed on cigarette, tobacco and similar products instead of 28 percent tax currently applied. According to sources, the government has also sent its detailed recommendation to the GST Council for the new GST slab reorganization, on the basis of which a final decision will be taken in the upcoming meeting. The new GST rates can be announced only after this meeting. In addition to tobacco-cigarettes, cigars, other smoking products, alcohol and other alcoholic drinks are also imposed, which is determined by the state governments.

Consumers and businessmen will get big relief
Experts believe that this step will provide relief to the tax system as well as consumers and traders, as the GST Council meeting is considered very important, so only after this, complete information about the new rates and proposals will be revealed.

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