Middle Class to Benefit from GST Rate Adjustments on Consumer Goods

The GST system is undergoing significant changes with the implementation of a new tax structure from September 22. The revised framework will primarily consist of two tax slabs: 5% and 18%. A more substantial 40% rate will be applied to select items, including pan masala, cigarettes, and various sugary and carbonated beverages. The Finance Minister confirmed that the reforms would positively impact the affordability of several goods frequently purchased by the middle class. Among the items now falling under the 18% tax bracket are televisions, air conditioners, and motorcycles with engine capacities below 350cc. These changes are designed to enhance the quality of life for citizens and simplify business processes, as noted by Sitharaman’s office.