'GST bachat utsav': Taxes on wide range of goods, services to be reduced starting Monday
GST
Dated:- 21-9-2025
PTI
New Delhi, Sep 21 (PTI) Prices of kitchen staples to electronics, from medicines and equipment to automobiles, will get cheaper from Monday as reduced GST rates on about 375 items come into effect.
In a bonanza to consumers, the GST Council, comprising Centre and states, decided to reduce tax rates on goods and services, from September 22 the first day of Navaratri.
In his address to the nation on the eve of rollout of the new reduced tax rates, Prime Minister Narendra Modi said, “GST bachat utsav (savings festival)”, coupled with the hike in income tax exemption to Rs 12 lakh given in the Budget, will be a “do
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onal goods like TV, AC, washing machines will become cheaper.
Various FMCG companies have already announced reduction in prices in view of GST rationalisation.
With GST on most drugs and formulations, and medical devices like glucometers and diagonistic kits reduced to 5 per cent, the cost of medicines will come down for the common man. Also, home builders will benefit as GST on cement has been cut to 18 per cent, from 28 per cent.
The government has already directed pharmacies to revise their MRP or sell medicines at a lower rate after taking into account GST cut benefits.
The biggest beneficiary of GST rate cut is buyers of automobiles wherein tax rates have been slashed to 18 per cent and 28 per cent for small and big cars, respe
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er structure wherein majority of goods and services will attract tax of 5 and 18 per cent. A 40 per cent tax will be levied on ultra luxury items while tobacco and related products will continue to be in the 28 per cent plus cess category.
Currently, Goods and Services Tax (GST) is levied in 4 slabs of 5, 12, 18 and 28 per cent. Besides, a compensation cess is levied on luxury items and demerit or sin goods.
Finance Minister Nirmala Sitharaman had last week said that the GST reforms will infuse Rs 2 lakh crore into the economy, leaving people with more cash in hand that otherwise would have gone as taxes.
About 99 per cent of goods under the 12 per cent GST slab currently will move to 5 per cent. The rejig will also result in 90 per c
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