The overhaul will cut the top GST rate from 28 to 18 per cent, making cars, air con units and fridges cheaper in a bid to boost consumption.
Faced with punishing US tariffs, Indian Prime Minister Narendra Modi has sought to turn crisis into opportunity, unveiling a historic tax overhaul that he says will deliver a “double Diwali” for households and businesses alike.
In a wide-ranging Independence Day address on August 15, Modi unveiled the most significant revamp of India’s Goods and Services Tax (GST) in a decade – pitched as both an economic stimulus and a political statement of resilience.
