GST makeover: 5% tax on essentials, 18% on other items
Big update on taxes: Starting September 22, India's GST system is getting a makeover.
The new setup will have just two main tax rates—5% for essentials and 18% for most other items.
The goal? Make taxes simpler and life easier.
What it means for you
These changes mean everyday things like food, medicines, and insurance could get cheaper or even tax-free—good news for students, young professionals, families, and small business owners.
PM Modi says this move will help people save more money, boost local businesses (hello "Made in India"), create jobs, and make it easier to start or run your own venture.
With an estimated ₹2.5 lakh crore in household savings expected, it could make big dreams like buying a home or vehicle feel more possible for many young Indians.