Big Indirect Tax Reform Expected After 2017, Products In 12% Slab Moved To 5% Slab, Sources
India is set for a significant overhaul of its Goods and Services Tax (GST) system, introduced in 2017, with a proposed elimination of the 12% tax slab. Approximately 99% of items currently taxed at 12%, including daily-use products like packaged food, household goods, and certain services, are expected to shift to the 5% slab. This reform aims to simplify the tax structure, reduce prices for essential goods, boost consumption, and enhance ease of doing business. A new 40% slab may be introduced for select sin goods like tobacco, while most items in the 28% slab could move to 18%. The GST Council is likely to discuss these changes in a September 2025 meeting, with implementation targeted by Diwali 2025.
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