GST rate cut on most common man’s items; new rates to be effective from Sept 22

New Delhi, 4/9: A host of goods and services concerning common man including paneer, bread, hair oil, shampoo and toothpaste will become cheaper effective from September 22 as the GST Council, chaired by Union Finance Minister Nirmala Sitharaman and comprising representation from all states on Wednesday .

The Council decided to abolish 12% and 28% tax slabs and introduce a new GST slab of 40%, which will be applicable on super luxury and sin goods.