In a cheer for the aam aadmi ahead of Navratri and Diwali, the Nirmala Sitharaman-led GST Council overhauled the complicated indirect tax regime, announcing sharp reductions in rates on food and daily essential items as well as consumer durables like TVs and refrigerators.
The GST bonanza will leave more money in the hands of the middle class, which received a substantial tax relief earlier this year after annual income of up to Rs 12 lakh was made tax-free in the Union Budget.
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