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GST reforms not a reaction to US tariffs: Ashwini Vaishnaw
Union Minister Ashwini Vaishnaw has made it clear: India's latest GST reforms weren't a reaction to the recent 50% US tariffs.
These changes were actually planned earlier as part of a promise by PM Modi.
The new system sets most goods and services at either 5% or 18% GST.
'Game changer for India's economy'
The government is calling the new GST structure a "game changer" for India's economy.
It's designed to make taxes simpler, lower costs for businesses, and boost demand for local products—while keeping a steep 40% tax on sin goods.
Agriculture Minister Shivraj Singh Chouhan also pointed out that these reforms could help farmers by cutting production costs and increasing output.