Finance Minister Sitharaman recently announced a major revamp of the Goods and Services Tax (GST) system in India. The approval of a special 40% tax slab for sin and luxury goods by the GST Council marks a significant change. The new tax slab is set to replace the existing cess that was previously imposed on such items. However, the exact date of implementation for this new tax structure is still pending, pending further details and discussions within the council.
GST Revamps: FM Sitharaman Announces Special 40% Tax Slab for Sin Goods
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