GST 2.0: India Slashes Tax Slabs to Just 5% & 18%, Essentials Go Tax-Free. The Indian government's GST 2.0 overhaul simplifies the tax structure into two slabs: 5% and 18%. Essential goods and medicines are exempt, while luxury items face a 40% tax. Designed to lower living costs and stimulate spending, the reform targets economic growth and encourages compliance among businesses, especially MSMEs.

GST 2.0: India Slashes Tax Slabs to Just 5% & 18%, Essentials Go Tax-Free...

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