The government has announced a modification of the Goods and Services Tax (GST) slabs, leading to price changes for several consumer goods. Many daily use items have been moved to the zero GST category, including paneer, Indian breads, pastries, butter, and ghee. No GST will be levied on 33 life-saving drugs and individual health policies. A new 40% GST slab has been introduced for luxury and ‘sin’ goods such as paan masala and tobacco. The government has stated that businesses need to pass on the benefits to consumers, with one official noting, "the need of the hour is to pass on the benefits." These changes, referred to as a "GST 2.0 bonanza," will be implemented from the 22nd and 27th of September. Additionally, the GST on cement, crucial for construction, has also seen a reduction.
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