In its 56th meeting (September 3–4, 2025), the GST Council, led by Finance Minister Nirmala Sitharaman, rolled out a dramatic rationalisation of India’s GST structure. The existing four-tier system (5%, 12%, 18%, 28%) has been condensed into two core slabs — 5% and 18%, alongside a dedicated 40% “sin-and-luxury” tax for select demerit goods. These...
