07 Oct 2025 | 3 Mins Read
GST cuts could boost middle-class spending and consumption
Flipitmoney
The Indian Government has announced structural changes to the Goods and Services Tax (GST) effective September 22, 2025, shifting towards a simpler two-slab system: 5% for essentials and 18% for standard goods and services, with a 40% demerit slab for luxury products. GST exemption on health and life insurance premiums will benefit consumers.