A new 40% commodities and Services Tax (GST) slab, the highest in the regime, has been imposed by the government on "sin goods" and some luxury items. The new structure lowered taxes for the majority of items to 5% and 18%, as announced by Union Finance Minister Nirmala Sitharaman as part of the new GST changes.
Check what new products will be coming under this highest GST slab.
"Sin goods" refers to goods that are deemed detrimental to society or the health of an individual or society as a whole. The list consists of pan masala, gutka, tobacco, and sugary or alcoholic drinks. Higher taxes on certain commodities are frequently imposed by governments around the world in an effort to deter consumption and generate funds for public welfare.
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