GST Overhaul: New 40% 'Sin Tax' on Luxury Goods; Relief for Textiles and Green Energy | India Today скачать в хорошем качестве

GST Overhaul: New 40% 'Sin Tax' on Luxury Goods; Relief for Textiles and Green Energy | India Today

Significant changes to the Goods and Services Tax structure have been announced, impacting multiple sectors. The inverted duty structure in the man-made textile sector is being corrected by reducing GST on man-made fiber to 5%. Similarly, for the fertilizer sector, GST on key inputs like sulfuric acid and ammonia is down to 5%. The renewable energy sector also sees a GST reduction to 5% on devices like windmills and solar panels. A special rate of 40% will be levied on sin and super-luxury goods, including pan masala, certain cars, and personal aircraft. In a move to increase affordability and coverage, GST on all individual life and health insurance policies has been exempted. The announcement stated, "All this will be effective 22nd September 2025." However, tobacco-related products will continue at existing rates until compensation cess loans are repaid. #gstcouncil #gstratechange #gstnews #itwebvideos #taxreform #indianeconomy #inverteddutystructure #textileindustry #fertilizersector #renewableenergy #sintax #luxurytax #insurance #panmasala #tobacco #gstcouncil Subscribe to India Today for NEW VIDEOS EVERY DAY and make sure to enable Push Notifications so you'll never miss a new video. All you need to do is PRESS THE BELL ICON next to the Subscribe button! India Today TV is India's leading English News Channel. India Today YouTube channel offers latest news videos on Politics, Business, Cricket, Bollywood, Lifestyle, Auto, Technology, Travel, Entertainment and a lot more. Stay tuned for latest updates and in-depth analysis of news from India and around the world! WhatsApp Channel: https://whatsapp.com/channel/0029Va2A... Download App: https://indiatoday.link/wHaj Follow us: Official website: https://www.indiatoday.in/ Twitter:   / indiatoday   Facebook:   / indiatoday