The 56th GST Council meeting, chaired by Finance Minister Nirmala Sitharaman in New Delhi on Wednesday, unveiled a sweeping overhaul of tax rates aimed at easing costs for households while tightening levies on sin and luxury goods.
Essentials such as milk, paneer, butter and life-saving medicines have been granted steep GST cuts or exemptions, while tobacco products, aerated drinks, luxury cars and yachts will attract higher taxes of up to 40%. The changes will take effect from Sept. 22, with phased implementation for certain items.
Here are the key highlights from the meeting:
