Big GST Change! 🤯 Two Rate Structure Explained | #airGurukul Banking Exams | #shorts

Big GST Change! 🤯 Two Rate Structure Explained | #airGurukul Banking Exams | #shorts

Confused by GST rates? 🤔 Get ready for a major change! Group of Ministers (GoM) has approved a new two-rate GST structure to simplify the tax system.
The 12% and 28% slabs are being removed! ✅
• 99% of items from the 12% slab will move to the 5% slab.
• 90% of items from the 28% slab will move to the 18% slab.
The main goals are to:
• Simplify GST 📈
• Boost MSMEs 💼
• Increase household consumption 🛍️
This is a key Economic Affairs topic for your banking exams, as questions on monetary policy and financial reforms are common. Keywords like Rate Rationalisation, GoM, and GST Council are crucial for your preparation.
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